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Mandy and Steve had been married for six years. Three years ago, after having their only daughter, Carol, they bought their first home for $350,000.
Mandy and Steve had been married for six years. Three years ago, after having their only daughter, Carol, they bought their first home for $350,000. Last year, Steven was killed in a car accident. His will left everything to his daughter. The value of the home at Steven's death was $525,000. Referring to the notes below, complete the following table assuming that the personal residence was owned using each alternative ownership type. Complete the table below based on the information above. *Assume that Steven had purchased the home with his separate funds for $350,000 Assume, at the purchase of the home, Steven contributed $225,000 and Mandy contributed $125,000 and held in corresponding percentage unless the method of titling assumes otherwise. ***Assume the home was purchased with community funds
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