Community Property Agreement In Washington State
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FAQ
After the death of a spouse, assets still need to be cleared into the name of the surviving spouse. For real property (land and house), the Community Property Agreement and a short declaration should be recorded in the County where the property is situated.
Community property is a principle of law applicable in Washington and eight other states. In these states, a spouse or registered domestic partner owns 50% of all property acquired during the marriage or domestic partnership. Read on to learn exceptions to the rule.
A community property agreement will trump a conflicting provision in a will, since it is a binding contract. States differ on whether a community property agreement can provide for a third party to inherit the community property when the second spouse dies.
Washington is one of a few remaining community property states in the country, which means items considered marital property are generally split equally. ing to Washington law, marital (or community) property is that which was acquired by either party during the course of the marriage, with some exceptions.
To use a Washington state community property agreement, you and your spouse or partner must agree to leave everything to each other, complete the document, and sign it in front of a notary public.