community property with right of survivorship

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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 updated in July of 2022 by the Wex Definitions Team]