Full question:
I live with my wife in Nevada. After our marriage, we acquired a community property. We would like to know the rights we have over the community property?
- Category: Husband and Wife
- Subcategory: Community Property
- Date:
- State: Nevada
Answer:
In Nevada, both spouses have rights to manage and control community property as per Nevada Revised Statutes Annotated § 123.230. Here are the key points:
- Each spouse can give the other a written power of attorney to manage community property.
- Neither spouse can leave more than half of the community property to someone else in a will.
- Neither spouse can give away community property without the other's consent.
- Both spouses must sign to sell, convey, or encumber community real property.
- Both spouses must join in purchasing community real property.
- For community household goods, both must sign to create a security interest or sell them.
- For businesses where both spouses are involved, both must agree on significant transactions. If only one spouse manages the business, they can act without the other’s consent in the ordinary course of business.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.