Real Estate PL Topic - Community Property

Community Property

Community property consists of real and personal property acquired by either spouse during the marriage. Any conveyance or encumbrance of community property requires the signatures of both spouses. Spouses can will their half of the community property to whomever they desire, but upon the death of one spouse, the surviving spouse automatically owns one-half of the remaining property. If a spouse dies without a will, half of the community property already belongs to the surviving spouse and the other half is inherited by the surviving spouse or by the decedent’s other heirs, depending on state law. Community property does not provide the automatic right of survivorship that joint tenancy does.

According to Guam law,

1. Spouses are equal partners in marriage.
2. Real or personal property acquired during marriage is community property.
3. Conveyance requires signature of both spouses.
4. No right of survivorship; when one spouse dies, survivor owns one-half of community property. Other one-half is distributed according to will or, if no will, inherited by the surviving spouse.