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?
Correct Answer
D) A marital property agreement under Texas Family Code §4.102 that converts separate property into community property
Under Texas Family Code §4.102, spouses may agree to convert one spouse's separate property into community property through a written marital property agreement. This provision allows conversion in both directions—community to separate and separate to community—giving spouses flexibility in managing their property characterization.
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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?
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A Texas license holder is helping a married couple purchase their first home. The husband is contributing $60,000 from his pre-marital savings as the down payment. Under Texas community property law, what should the license holder recommend regarding the funding documentation?