“These gems have life in them. Their colors speak, say what words fail of.“ – George Eliot

Affidavit Concerning Community Property Agreement

A CPA must be registered when used to transfer real estate. Another benefit of registration is that a certified copy of the CPA is available from the County Auditor`s Office in the event of the district auditor`s loss. If a couple revokes a CPA, this revocation must also be registered by the county auditor. The advantage of joint ownership is that the tax base of the group patrimony of a deceased spouse is changed to the fair value of the asset at the time of the death of the spouse. While the use of a CPA should have the effect of avoiding a reduction in the estate of the first spouse to die, the surviving spouse should as a general rule take the following steps with respect to the property under the jurisdiction of the CPA: any spouse may transfer half of the Community patrimony and all of his or her separated property to anyone. . . .

Posted in Uncategorized 1 week, 6 days ago at 11:51 pm.

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