[WSBAPT] [WSBARP] converting JTWROS to Community Property

[Mark Higgins]

Agreements between husband and wife regarding property:  If this were a
prenup. both sides would need separate counsel for it to be enforceable.​
If the agreement only applies to a single asset does the need for separate
counsel go away?

Mark

On Thu, Jan 28, 2016 at 10:05 AM, Bickel, Dwight <Dwight.Bickel at fntg.com>
wrote:

> A recorded Warranty Deed from themselves to themselves “to convert title
> to community property” will accomplish their desire and retain the
> protection of the owner’s title insurance policy when they acquired. That
> deed does not incur excise tax.
>
>
>
> A community property agreement is not required to include all of the
> traditional three prongs. The traditional CPA (1) converts all existing
> separate property to community, (2) converts all future property to
> community and (3) confirms intestate rights of succession to the surviving
> spouse. However, a CPA may convert only one specified asset and retain
> separate (or other title) as held by existing records and not affect future
> property. It should be recorded.
>
>
>
> *From:* wsbarp-bounces at lists.wsbarppt.com [mailto:
> wsbarp-bounces at lists.wsbarppt.com] *On Behalf Of *Kristina DeVore
> *Sent:* Wednesday, January 27, 2016 10:07 PM
> *To:* WSBA Real Property Listserv; WSBA Probate & Trust Listserv
> *Subject:* [WSBARP] converting Jtwros to Community property
>
>
>
> I have clients who purchased a home together before marriage and took
> title as joint tenants with right of survivorship and now want the property
> to be held as community property. They do not want a community property
> agreement for all their assets but they do want this asset to be community
> property.  Can they have a community property agreement or some type of
> property status agreement with respect to one asset?  Or do they need a
> deed from themselves, to themselves to create community property?  Any
> advice would be greatly appreciated.
>
>
>
> Thanks,
>
> Kristina
>
>
>
>
>
> Kristina S. DeVore | Attorney & Counselor at Law
>
> KRISTINA DEVORE LAW FIRM, pllc | 300 W. 15th Street, Suite 305 | Vancouver,
> WA  98660
>
> Phone: (360) 695-0535 | Fax: (360) 737-4154 | kristina at devore-law.com
>
>
>
>
>
>
>
>
>
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-- 
Mark T. Higgins
Mark T. Higgins, P.C.
P.O. Box 57
Darrington, WA 98241
206-491-2420
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