Community Property Interaction 1

Community Property Self-Quiz

Jason and Jumana Kidd are husband and wife who live in New Jersey. Jason makes $10,000,000 in one season playing basketball. Who owns that money?

Jason and Jumana Kidd are husband and wife who live in Texas. Jason makes $10,000,000 in one season playing basketball. Who owns that money?

Ozzie and Harriet are husband and wife, and they live in Idaho (a community property state). Harriet inherits $100,000 from her Aunt Mabel. She then goes and uses that money to buy Whiteacre. Whiteacre is considered community property.

Ozzie and Harriet are husband and wife, and they live in Idaho (a community property state). Harriet inherits $100,000 from her Aunt Mabel. Ozzie and Harriet decide to buy Whiteacre for $500,000. As part of the payment, Harriet uses the $100,000 that she inherited from Aunt Mabel. Whiteacre is considered community property.