BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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children of heirs
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the community
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each spouse
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none of these
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Detailed explanation-1: -Property that an individual owns before a marriage is considered separate property, as are inheritances or third-party gifts given to an individual during a marriage.
Detailed explanation-2: -Community property refers to a U.S. state-level legal distinction that designates a married individual’s assets. Any income and any real or personal property acquired by either spouse during a marriage are considered community property and thus belong to both partners of the marriage.
Detailed explanation-3: -A Marriage in a Community of Property is a type of marital regime where the spouses elect to have only one estate, and all assets and liabilities are equally shared. Usually, when a person gets married in a community of property, the spouses automatically become co-owners of all their combined assets.