community property with right of survivorship

Community property with the right of survivorship is an agreement where, after the death of a spouse, ownership of the property that is jointly owned by both spouses automatically passes to the other spouse. The property or asset therefore avoids probate completely.

For example, a married couple owns a house in a community property state. Each owns one-half of the whole house. When one spouse dies, the other will take their interest, and subsequently will own the entire house.

[Last reviewed in July of 2022 by the Wex Definitions Team ]

Keywords

• property

Wex

• LIFE EVENTS
• family & personal matters
• marriage
• financial events
• wills
• PROPERTY
• property & real estate law
• trusts, inheritances & estates
• wex definitions
• family law
• property law