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Fact Pattern #5: Ben and Jennifer, who are married, own their home together as community property in Texas. They purchased the home 16 years
Fact Pattern #5: Ben and Jennifer, who are married, own their home together as community property in Texas. They purchased the home 16 years ago for $165,000. After many improvements and a surge in the market, the home is now worth $950,000. Question 23: If Ben died today, can he give his share of the house to his daughter Violet? Why? Question 24: If Ben died today and left his share of the home to his daughter Violet, what is Violet's basis in the home? Why? Question 25: If Ben died today and left his share of the home to his daughter Violet, what is Jennifer's basis in the home? Why?
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