SB 469

Bill Subjects

Abstract

Existing law prescribes different characteristics applicable to property ownership. With regard to community property held by spouses, if the property is expressly declared to be community property with right of survivorship in the transfer document, existing law requires that, upon the death of one of the parties, the property passes to the survivor without probate administration, in the same manner as property held in joint tenancy. Existing law applies these provisions to instruments created on and after July 1, 2001. This bill would require, with regard to property held by spouses described in an instrument created before July 1, 2001, stating only that the property is held as community property, that title be presumed to be held as community property with right of survivorship, absent other stipulations to the contrary.