Community Property With Right Of Survivorship, Explained

No one wants to think about losing people close to them, but it’s important to have a plan in place for what should happen to your and your partner’s assets, especially a home. For those looking to both fully share and leave their assets to their spouse, community property with right of survivorship may be a good option for you. Let’s take a look at how this method of sharing a home title works.

What Is Community Property With Right Of Survivorship?

Community property with right of survivorship is a legal agreement that allows two spouses or domestic partners to equally share assets through marriage as well as pass on assets to the other spouse upon death without going through probate.

In states that recognize community property, this method of holding and transferring title may be a better option than something like joint tenancy, which we’ll get into later.