DeMarcus and Brianna Are Married and Live in a Common

question 133

Multiple Choice

DeMarcus and Brianna are married and live in a common law state.They jointly own real property with an adjusted basis of $200,000.When the property has a FMV of $450,000,DeMarcus dies leaving all of the property to Brianna.If she later sells the property for $650,000,what is Brianna's gain on the sale?

• A)$200,000
• B)$225,000
• C)$325,000
• D)$450,000

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Definitions:

Aid of Execution

The provision of assistance or enforcement measures by a court to ensure a judgment or court order is carried out effectively.

Enforcement

is the act of compelling compliance or obedience to a law, rule, agreement, or order through legal or authoritative means.

Questioning of Debtor

A legal process in which a debtor is interrogated regarding their financial status and assets, often in the context of enforcing a judgment.

Alberta

A province in western Canada, known for its natural beauty, including mountains, forests, and vast prairies.