Does divorce sever joint tenancy California?
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Does divorce sever joint tenancy California?
The ambiguous status of property ownership is only while a divorce is pending. A judgment for dissolution of marriage automatically severs the joint tenancy. After the marriage is dissolved real property owned in joint tenancy is severed under California law.
What is better community property or joint tenancy?
Generally, property held as community property with right of survivorship has tax advantages over a joint tenancy. In a joint tenancy, when one spouse sells property that was held jointly prior to the death of the other spouse, a portion of the profit is subject to capital gains tax.
Does cheating spouse affect divorce?
When Does Cheating Matter? Sometimes, adultery does become a factor in a divorce decision, even in a no-fault state. Property Division – If the cheating spouse used marital assets or property to enhance the affair and it depleted marital assets, a judge may take that into account during property division decisions.
