在房产交易进入中后期，如果你是买方，在escrow company给你寄的escrow
documents中有一份是叫你specify怎样vest房
options, 我在我的博客http://
Joint Tenancy, 全名叫Joint Tenancy with Right of Survivorship， 是最常见的夫
妻hold 房产权的方式。夫妻中有一方过世后，另一方自动receives title, 如果另一
方要卖房，不需要法庭的probate （Court probate是个费钱费时的process。 费用
typically是房子价值的5%， 时间上也得几个月。在房产市场上，时不时我会看到注明
需要probate的房子）, 所以就没有因probate产生的费用和时间上的拖延。过世一
方的，也就是一半的property basis调整到当前价值，但幸存一方仍然是旧的basis。
而Community Property with Right of Survivorship， 和Joint Tenancy一样，当夫
妻中有一方过世后， 同样不需要probate， 然而property的basis却整个重新调，在大
多数情况下能reduce capital gain tax（前提是房产升值了）
Community Property with Right of Survivorship是个相对新的hold title的选择，
在加州是在2001年七月一日以后才有的。
在我接下来举例说明之前，先给个basis的定义。Basis = purchase price –
depreciation + improvements。
Bob和Mary 2001年在CV买了个房子，价格$500,000. 三年以后，他们搬了，把原来的那
个房子作为出租房。十年以后，房子depreciated down to a basis of $400,000. Bob
在2014年初去世后，Mary立刻把房子卖了，$800,
title vest的情况，有以下几种可能。
1) 如果title hold as Joint Tenancy. Bob’s 的那一半 basis is adjusted to the
date of death value：half of $800,000 = $400,000。 Mary的那一半仍然是之前的
value 不做调整：half of $400,000 = $200,000。So the new basis is $400,000+$
200,000, 那么她得付 $800,000 - $600，000 = $200,000的capital gain tax.
2) 如果title hold as Community Property with Right of Survivorship, property
得到100% basis adjustment, no tax no fee.
当然，这里举的是投资房的例子，如果是自助房，那么在加州，
single有$250,000的capital gain的减免。
所以对于夫妻，Community Property with Right of Survivorship既避免了probate,
又double "stepped-up" on basis。
（2016年三月九日注：关于以上讲述的Joint Tenancy和Community Property之间在一方过世后tax base的区别， 目前已经被 Revenue Ruling 87-98 消除， Revenue Ruling 87-98 allows both joint tenancy and community property to acquire a new cost basis upon the death of a spouse if the property was acknowledged as community property before the death of the spouse)
documents中有一份是叫你specify怎样vest房
options, 我在我的博客http://
Joint Tenancy, 全名叫Joint Tenancy with Right of Survivorship， 是最常见的夫
妻hold 房产权的方式。夫妻中有一方过世后，另一方自动receives title, 如果另一
方要卖房，不需要法庭的probate （Court probate是个费钱费时的process。 费用
typically是房子价值的5%， 时间上也得几个月。在房产市场上，时不时我会看到注明
需要probate的房子）, 所以就没有因probate产生的费用和时间上的拖延。过世一
方的，也就是一半的property basis调整到当前价值，但幸存一方仍然是旧的basis。
而Community Property with Right of Survivorship， 和Joint Tenancy一样，当夫
妻中有一方过世后， 同样不需要probate， 然而property的basis却整个重新调，在大
多数情况下能reduce capital gain tax（前提是房产升值了）
Community Property with Right of Survivorship是个相对新的hold title的选择，
在加州是在2001年七月一日以后才有的。
在我接下来举例说明之前，先给个basis的定义。Basis = purchase price –
depreciation + improvements。
Bob和Mary 2001年在CV买了个房子，价格$500,000. 三年以后，他们搬了，把原来的那
个房子作为出租房。十年以后，房子depreciated down to a basis of $400,000. Bob
在2014年初去世后，Mary立刻把房子卖了，$800,
title vest的情况，有以下几种可能。
1) 如果title hold as Joint Tenancy. Bob’s 的那一半 basis is adjusted to the
date of death value：half of $800,000 = $400,000。 Mary的那一半仍然是之前的
value 不做调整：half of $400,000 = $200,000。So the new basis is $400,000+$
200,000, 那么她得付 $800,000 - $600，000 = $200,000的capital gain tax.
2) 如果title hold as Community Property with Right of Survivorship, property
得到100% basis adjustment, no tax no fee.
当然，这里举的是投资房的例子，如果是自助房，那么在加州，
single有$250,000的capital gain的减免。
所以对于夫妻，Community Property with Right of Survivorship既避免了probate,
又double "stepped-up" on basis。
（2016年三月九日注：关于以上讲述的Joint Tenancy和Community Property之间在一方过世后tax base的区别， 目前已经被 Revenue Ruling 87-98 消除， Revenue Ruling 87-98 allows both joint tenancy and community property to acquire a new cost basis upon the death of a spouse if the property was acknowledged as community property before the death of the spouse)
另外，两者还有以下区别：
1. Joint Tenancy任何两个或多个人都可以hold， Community Property或Community Property with Right of Survivorship只有夫妻或者registered domestic partners可以hold。
2. In Joint tenancy, 你可以在生前convey your part of the interest on the property without 配偶的许可, 一旦convey, title 就不是Joint tenancy 了，新人和原来一方就变成了 Tenancy in Common; Community Property或Community Property with Right of Survivorship 房地产的 transfer, as well as leases for more than one year, 都必需要双方签字, neither spouse can make a gift of community property to a third person without the other spouse's permission.
3. A judgement against one joint tenant does not serve the joint tenancy, but levying execution against the property and having a sale does end the joint tenancy. If the joint tenant dies prior to the execution of the judgement against the property, the property will pass free and clear of the debt to the surviving joint tenant(s). While community property is liable for the debts of the either spouse after marriage. The earnings of a spouse are not liable for the debts of the other spouse incurred prior to marriage.
2. In Joint tenancy, 你可以在生前convey your part of the interest on the property without 配偶的许可, 一旦convey, title 就不是Joint tenancy 了，新人和原来一方就变成了 Tenancy in Common; Community Property或Community Property with Right of Survivorship 房地产的 transfer, as well as leases for more than one year, 都必需要双方签字, neither spouse can make a gift of community property to a third person without the other spouse's permission.
3. A judgement against one joint tenant does not serve the joint tenancy, but levying execution against the property and having a sale does end the joint tenancy. If the joint tenant dies prior to the execution of the judgement against the property, the property will pass free and clear of the debt to the surviving joint tenant(s). While community property is liable for the debts of the either spouse after marriage. The earnings of a spouse are not liable for the debts of the other spouse incurred prior to marriage.
Joint Tenancy 和Community Property with Right of Survivorship的共同点：
都不能立遗嘱把其中一方的interest转给其他人
至于怎样transfer title in and out of living trust, 以及各种title 在marital
dissolution 发生时受到的影响，会复杂些，请咨询律师和会计师了。
这些仅是我的知识 to my best knowledge up to the date of this blog. Rules and tax code often change over time, please consult an attorney and a certified accountant for confirmation.
至于怎样transfer title in and out of living trust, 以及各种title 在marital
dissolution 发生时受到的影响，会复杂些，请咨询律师和会计师了。
这些仅是我的知识 to my best knowledge up to the date of this blog. Rules and tax code often change over time, please consult an attorney and a certified accountant for confirmation.
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