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Are there special ownership provisions for individuals who reside in a community property or state territory?

April 26, 2017individuals ownership Property special State

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Are there special ownership provisions for individuals who reside in a community property or state territory?

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Yes. If only one spouse is claiming disadvantaged status, this spouse’s ownership interest will be considered only to the extent it is vested by the community property laws. For this reason, a transfer or relinquishment of interest by the nondisadvantaged spouse may be necessary. Back To Top 18.