Planning Chapter 3 Review Key Terms Refer to glossary for correct definitions. Self-Test Questions Answer true or false. Refer to answer pages for correct answers. Community property is a form of property ownership in which various people who are neighbors own a share of real estate in the community.
Substantial differences exist among the property laws of the community-property states.
Property acquired by either spouse before marriage in a community-property state remains separate property. Property inherited during the marriage by an individual spouse in a community-property state is considered to be separate property. The character of community property is determined by the character of property used to acquire it initially.