COMMUNITY PROPERTY Law Secrets Exposed! скачать в хорошем качестве

COMMUNITY PROPERTY Law Secrets Exposed!

Community property law is crucial for married couples in community property states. Understanding community property laws helps navigate real estate, assets, and debts effectively. If you're married, thinking about getting married, live in, or plan on moving to a community property state and either own or are thinking about purchasing real estate, it is vital that you understand community property law and how it could impact your real estate. Before we get into it, I am not an attorney. I’m going to summarize how community property rules can apply to certain real estate transactions. Always consult an attorney for legal advice. Nine states in the US currently have community property laws. Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin In community property states, assets and debts acquired during a marriage are typically split equally between spouses if they divorce. However, not all assets are considered community property, including: ~Assets and debts acquired before marriage ~Property received through inheritance, a will, or trust fund ~Property gifted to one spouse ~Property acquired when the spouses are legally separated Each state has its own laws that define community property, and some states have exceptions to the law. For example, Texas considers property purchased during marriage, community property, with no exception to legal separation. Common law marriage is not relevant to community property law, except in Texas. In Texas, common property law only applies to formal marriages. However, some property rights may be derived from long-term cohabitation, especially if it resembles a traditional marriage. In Texas, from a mortgage/real estate transactional standpoint, community property law currently only applies to owner occupied transactions for legally married people, in which case, both spouses would need to sign the deed of trust (giving ownership rights). Government loans (VA, FHA, USDA loans) require each spouses debt to be included in qualifications, even if they are not on the loan. Conventional loans do not require spouses debt to be included in qualification if spouse is not on the loan. If you have any questions about navigating the purchase, refinance or mortgage process in general, feel free to comment below with your thoughts or contact me directly. don’t forget to like this video, share it with someone it might help and subscribe to the channel for more real estate mortgage tips. #CommunityProperty #RealEstateLaw #DivorceAssets #TexasRealEstate #PropertyDivision #MortgageTips #CommunityPropertyStates #HomeBuying #AssetProtection #LegalAdvice #FamilyLaw #RealEstateInvesting #FinancialPlanning #HomeLoans #Inheritances Contact us for your home purchase, refinance or home equity loan (HELOC). = Edward Foy: H Mortgage ☎️281-304-6353 📩[email protected] Socials: https://www.htxmtg.com/lt Chat on Teams: https://loom.ly/xnbjnh4 Competitive Pricing, Quick Approvals, Close On Time NMLS 310856 / 218762 = 🔔Subscribe:    / @homeqnet   👉Apply Now: https://www.htxmtg.com/apply 👉Reviews: https://www.htxmtg.com/reviews 🔑Finding The Right Mortgage Broker: https://loom.ly/GArUgAk 💰Max Concessions Before Lowering Price:    • Are Seller Concessions Better Than Price C...   🔑New Construction: https://loom.ly/8gIhELk 💰Mortgage Reviews: https://loom.ly/TlJxzWI = Disclaimer: We do not accept any liability for any loss or damage which is incurred as a result of listening to any of our publications. For all videos on my channel: This information is for general & educational purposes only. Always consult with an attorney, CPA, or financial professional for advice based on your specific situation. Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use. © The Home Equity Network, H Mortgage.