Question

Steven and Andrea are married and live in San Diego, California. Shortly after the marriage, they purchase a home together. Two years later, Andrea inherits ranchland from her deceased father. In terms of ownership: a. the home is considered to be community property, but the ranchland is not. b. the ranchland is considered to be community property, but the home is not. c. both the home and ranchland are held as community property. d. neither the home nor the ranchland are held as community property because California is not a community-property state.

Answer 1

Answer:

a. the home is considered to be community property, but the ranchland is not                            

Explanation:

           Community property is defined as those property or wealth that a husband an a wife have together. In other words, the property acquired by the a couple after they are legally married are claimed as community property. These properties are equally shared and owned by both husband and wife.

          In the context, after marriage, Steven and Andrea bought a house together. So this house is a community property as they have purchased it after their marriage. But the ranchland which Andrea inherited after her father's death will not be treated as a community property.

Hence the correct option is (a).