California Real Estate Practice Exam

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Study for the California Real Estate Exam. Engage with multiple choice questions and detailed explanations to sharpen your knowledge. Get ready to ace your real estate career!

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In the context of community property, what is true?

It can only be sold with both parties' signatures
It may be sold with the signature of either party
It is always considered separate property
It cannot be sold

The correct answer is: It may be sold with the signature of either party

Community property in the context of marriage refers to property and assets acquired during the marriage, which is typically considered jointly owned by both parties. This means that both parties have equal rights to the property and therefore, either party may sell it with their signature. Option A is incorrect because it implies that both parties' signatures are required, which is not true. Option C is incorrect because community property is not always considered separate property, unless specified by a prenuptial agreement. Option D is incorrect because community property can be sold, again, with the signature of either party.