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Joe LaVallie

Community Property

Monday, August 27, 2012 - Article by: Joe LaVallie - HomeStreet Bank - Message

If you are considering buying Real Estate in Seattle, then you need to know about Community Property in Seattle. According to Washington State law; if a married man or woman buy property while they are married and it is not purchased as separate property then it is assumed to be community property. If you have questions about community property please click here.

Married couples usually hold title as community property because there are tax advantages if either person passes away. Always consult your attorney if you have questions about your estate.

If the property is held as community property, each person has the right to sell or transfer one-half the community property. People should be aware that if one spouse dies with out a will, all of the property will trasfer to the surviving spouse. If one spouse does convey their part of the community property, make sure it is identified in the estate. Wow, a lot of talk about death, let's look at something fun for a second.

One of the largest ferris wheels in the United states has opened in Seattle, want more information please clickhere.

Joe LaVallie

The Integrity Team

Mortgage Banker

HomeStreet Bank

22001 66th Ave W

Mountlake Terrace WA 98043

NMLS ID#111363

joe.lavallie@homestreet.com

425-678-7604 Direct

1-800-761-7788 ext 7604

206-743-4722 Cell

Fax 206-512-1911

To Apply Online http://www.homestreet.com/jlavallie

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