Question
Nick and Alex had been married for eight years. Six years ago, they bought their first home for $500,000. They have one son named Joe.
Nick and Alex had been married for eight years. Six years ago, they bought their first home for $500,000. They have one son named Joe. Last year, Nick passed away. His will left everything to his son. The value of the home at Nicks death was $800,000. Assume, at the time of the purchase of the home, Nick contributed $300,000 and Alex contributed $200,000. They own the property as Community Property with the right of survivorship. Who will inherit the property? Nick and Alex had been married for eight years. Six years ago, they bought their first home for $500,000. They have one son named Joe. Last year, Nick passed away. His will left everything to his son. The value of the home at Nicks death was $800,000. Assume, at the time of the purchase of the home, Nick contributed $300,000 and Alex contributed $200,000. They own the property as Community Property with the right of survivorship. Who will inherit the property? 100% Alex 50% Joe / 50% Alex 60% Joe / 40% Alex 100% Joe
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