A Texas married couple purchases a vacation home together using a joint savings account containing only community funds. The deed lists both spouses as grantees. Under the Texas Family Code, what type of community property is this?
Correct Answer
C) Joint management community property because both spouses are named on the deed and the purchase used joint funds
Under Texas Family Code §3.102(c), community property is subject to joint management if both spouses are named on the title or if the property was acquired by the combined efforts of both spouses. Since both spouses are named on the deed and the purchase was from a joint account, this is joint management community property requiring both spouses' consent for disposition.
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Previous Question
A Texas license holder is working with a divorced seller who owned property as community property with a former spouse. The divorce decree awards the property to the seller. Under Texas law, what document should the license holder ensure exists in the chain of title?
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