Community Property Agreement

Community Property AgreementCommunity Property Agreements

A community property agreement is a document between married individuals that says, in general, that anything they own together as joint tenants is to be treated as community property.

The benefit of a married couple owning assets as community property, instead of as joint tenants, is that after one of them dies, the other can immediately sell the asset income tax-free because of a step-up in the basis of the asset.

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