Asked by Bobby Gallimore on Jun 14, 2024
Verified
When personal property is owned as community,it is said to be owned by both parties,50-50.
Community Property
Property that is acquired by the personal effects of either spouse during marriage and which, by law, belongs to both spouses equally.
Owned 50-50
refers to an arrangement or agreement where two parties each hold a fifty percent ownership interest in an asset, entity, or property.
- Differentiate between various forms of property ownership and the legal consequences of each.
Verified Answer
SN
Samaher nassarJun 17, 2024
Final Answer :
True
Explanation :
When personal property is owned as community property, it is considered to be owned equally by both parties (50-50).
Learning Objectives
- Differentiate between various forms of property ownership and the legal consequences of each.