A Texas wife receives personal injury damages of $250,000 during her marriage. Under the Texas Family Code, how is the personal injury recovery classified between community and separate property?
Correct Answer
B) The recovery for personal injuries sustained by a spouse during marriage is the injured spouse's separate property, except for any portion representing lost earning capacity during marriage
Under Texas Family Code §3.001(3), the recovery for personal injuries sustained by a spouse during marriage is that spouse's separate property, except for the portion of the recovery representing loss of earning capacity during marriage. Since earnings during marriage are community property, the lost earnings component of a personal injury recovery is also community property.
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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?
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A married couple in Texas wants to convert the husband's separate property investment condo into community property. Under the Texas Family Code, what type of agreement can they use?