Jay Bravin, CRS, GRI, RRG

Community Property:

 Requires a valid marriage between two people

 Requires signatures of both spouses to convey or encumber

Each spouse can devise (will) one-half of the community property

Upon death the estate of the decedent must be "cleared" through probate, affidavit or adjudication

Both halves of the community property are entitled to a "stepped up" tax basis as of the date of death

Joint Tenancy With Right Of Survivorship:

 Parties need not be married; may be more than two joint tenants

Requires signatures of all joint tenants to convey or encumber the whole

 Estate passes to surviving joint tenants outside of probate

 No court action required to "clear" title upon death of joint tenant(s)

Deceased tenant's share is entitled to a "stepped up" tax basis as of the date of death

Community Property with Right Of Survivorship:

 Requires a valid marriage between two persons

 Each spouse holds an undivided one-half interest in the estate

 One spouse cannot partition the property by selling his or her interest

 Requires signatures of both spouses to convey or encumber

 Estate passes to surviving spouse outside of probate

No court action required to "clear" title upon the first death

Both halves of the community property are entitled to a "stepped up" tax basis as of the date of death

This information is provided by Equity Title of Nevada as a courtesy only. 
For more information, you are encouraged to contact a professional legal tax advice