Danny and Julie, a married couple, decided to sell their community property home in a community property
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Question:
Danny and Julie, a married couple, decided to sell their community property home in a community property state, and reinvest their sale proceeds in a new home in a common law state with only Julie's name on the title. Which statement below is correct?
A) The new home will be considered the separate property of Julie.
B) Danny would have rights to only the sale proceeds from their prior home.
C) The new home will be considered community property.
D) The new home will be considered community property, but only if Julie places Danny’s name on the title as tenancy by the entirety.
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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