Series 6 - Investment Company And Variable Contracts Products Representative Exam

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Exceptions to community property ownership apply to all of the following EXCEPT:

Gifts
Property owned by one spouse prior to the marriage
Lottery winnings from a ticket purchased by only one spouse
Inheritances received by only one spouse

Explanations

If a person buys a winning lottery ticket during the marriage but does not receive the winnings until after the divorce is finalized, it is not considered community property.