Mark and Lisa are married and live in Texas. During their marriage, Mark purchases an investment property using earnings from his salary. Under the Texas Family Code, how is this property classified?
Correct Answer
C) Community property because it was acquired during marriage with community funds
Under the Texas Family Code §3.002, property acquired by either spouse during marriage is presumed to be community property. Since Mark's salary is community property (income earned during marriage), property purchased with that salary is also community property, regardless of whose name appears on the deed.
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