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Does Property transferred to be automatically qualify as community property?

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Old 12-05-2007, 01:38 PM     #1
makeba
 
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Default Does Property transferred to be automatically qualify as community property?

My father would like to purchase property making he and I joint tenants. He would also like to transfer his current property to me. I am married however and he is concerned that once he transfers property to me, or has a property where we share joint tenancy, my husband will have ownership rights to that property (due to Community Property rules.) How can my father transfer property to me as well as purchase property with me and it transfer only to me (not me and my husband)?
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Old 12-07-2007, 04:22 PM     #2
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Default Re: Does Property transferred to be automatically qualify as community property?

Have a lawyer set that up so that it is designated and agreed separate property. Gifts, inherited assets etc. can be kept separate in many cases.

There may be some tax issues as well.

...don't do this without professional help.

The minor costs will be more than worth it.
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