SB469:v99#DOCUMENTBill Start
CALIFORNIA LEGISLATURE—
2021–2022 REGULAR SESSION
Senate Bill
No. 469
Introduced by Senator Jones
|
February 17, 2021 |
An act to amend Section 682.1 of the Civil Code, relating to property.
LEGISLATIVE COUNSEL'S DIGEST
SB 469, as introduced, Jones.
Community property: presumption of right of survivorship.
Existing law prescribes different characteristics applicable to property ownership. With regard to community property held by spouses, if the property is expressly declared to be community property with right of survivorship in the transfer document, existing law requires that, upon the death of one of the parties, the property passes to the survivor without probate administration, in the same manner as property held in joint tenancy. Existing law applies these provisions to instruments created on and after July 1, 2001.
This bill would require, with regard to property held by spouses described in an instrument created before July 1, 2001, stating only that the property is held as community property, that title be presumed to be held as community property with right of survivorship, absent other stipulations to the contrary.
Digest Key
Vote:
MAJORITY
Appropriation:
NO
Fiscal Committee:
NO
Local Program:
NO
Bill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 682.1 of the Civil Code is amended to read:682.1.
(a) Community property of spouses, when expressly declared in the transfer document to be community property with right of survivorship, and which may be accepted in writing on the face of the document by a statement signed or initialed by the grantees, shall, upon the death of one of the spouses, pass to the survivor, without administration, pursuant to the terms of the instrument, subject to the same procedures, as property held in joint tenancy. Prior to the death of either spouse, the right of survivorship may be terminated pursuant to the same procedures by which a joint tenancy may be severed. Part 1 (commencing with Section 5000) of Division 5 of the Probate Code and Chapter 2 (commencing with Section 13540), Chapter 3 (commencing with Section 13550), and Chapter 3.5 (commencing with Section 13560) of Part 2 of Division 8
of the Probate Code apply to this property.(b) This section does not apply to a joint account in a financial institution to which Part 2 (commencing with Section 5100) of Division 5 of the Probate Code applies.
(c) (1) This section shall become operative on July 1, 2001, and shall apply to instruments created on or after that date.
(2) With regard to title to the property of spouses that is described in an instrument created before July 1, 2001, stating only that the property is held as community property, it shall be presumed that the property is held as community property with right of survivorship, and
the provisions of subdivision (a) shall apply, absent other stipulations to the contrary affecting the property, including stipulations in a will or a living trust.