This is a question that is something you might see on the Florida real estate state sales associate exam. Not this exact question, of course – I made this one up. But be sure you know this concept. Here we go…
Ethel’s uncle dies and leaves all of his property to Ethel. Ethel is married to Wilbur. This property is considered:
- joint property
- separate property
- homestead property
Read the question and pick an answer before you read my answer.
Chattel is personal property, so that is definitely not it. There is also nothing that indicates it is homestead property. For all we know, this is a $10 million shopping mall. So, D is out. That leaves B and C.
Separate property is property that is acquired before the marriage or property that is acquired during the marriage through inheritance or gift. So, if one of them owned this property before the marriage, it would be separate. If they bought it during the marriage, it would be joint because it was acquired during the marriage. Since they didn’t buy this property, Ethel inherited the property, it is separate even though they are married. So the correct answer is C.
If you didn’t know the answer to this, you might want to take a weekend state exam review class at Demetree School of Real Estate. If that’s you, check out the calendar and give me a call.
Please note that I, Karen Climer, have no affiliation with Climer School of Real Estate. My father, Ron Climer, sold that school in 2014. Since that time, I have had no affiliation with that school. If you are looking for me, you will find me at Demetree School of Real Estate.