Legal Definitions - community property with right of survivorship

Community property with the right of survivorship is an agreement between spouses where, upon the death of one spouse, ownership of the jointly owned property automatically passes to the surviving spouse. This means that the property or asset does not have to go through probate, which can be a lengthy and expensive process.

Let's say a married couple owns a house in a community property state. Each spouse owns half of the house. If one spouse were to pass away, the surviving spouse would automatically inherit the deceased spouse's half of the house. This means that the surviving spouse would then own the entire house without having to go through probate.

Another example could be a joint bank account. If a married couple has a joint bank account with right of survivorship, and one spouse passes away, the surviving spouse would automatically inherit the entire account without having to go through probate.

These examples illustrate how community property with right of survivorship can simplify the transfer of assets after a spouse's death and avoid the need for probate.