15
Nov
Community Property State List. The United States has nine community property states. Three states allow marital partners to opt-in to community property ownership through a written agreement signed by both parties. However married partners in community property states can also have separate property for example if they owned it before entering into the marriage. In addition Alaska is an opt-in community property state.
The rules vary greatly on this. Alaska - In Alaska spouses who wish to treat their assets as community property can establish a trust designating certain assets as community property. They go as follows. The rest of the remaining states employ different schemes which can actually vary quite widely from state to state. The definition of a Community Property State is a state in which the law considers that property acquired by a married couple during their marriage is joint property. Arizona California Idaho Louisiana Nevada New Mexico Texas Washington and Wisconsin are community property states as is Puerto Rico.
They go as follows.
This is the case even if only one spouse acquired solely it his or her name. Fannie Mae Guidelines On Community Property States Versus HUD Guidelines The most common issues that arise within community property states fall in the debt to income ratio issues. The rules vary greatly on this. In community property states community property is generally shared equally between spouses regardless of the source of the property. Alaska can be considered to be community property or common law hybrid states. This is the case even if only one spouse acquired solely it his or her name.