community property with right of survivorship
Property that is jointly owned by both spouses; and on the death of one spouse their 1/2 share will pass directly to the other spouse without going through probate.
For example, Husband and Wife own a house in a community property state. Each owns 1/2 of the whole house. When Husband dies, Wife will take husbands interest, and Wife will own the entire house.
Definition from Nolo’s Plain-English Law Dictionary
A way for married couples to hold title to property, available in some community property states. It allows one spouse's half-interest in community property to pass to the surviving spouse without probate.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm
