A Texas couple creates a community property survivorship agreement for their jointly-owned home. If one spouse dies, what happens to the property under this agreement?
Correct Answer
A) The surviving spouse automatically receives the deceased spouse's interest in the community property, bypassing probate
Under Texas Estates Code §112.001, spouses may agree that community property will pass to the surviving spouse upon the death of either spouse. This community property survivorship agreement allows the property to pass outside of probate, directly to the surviving spouse, similar to joint tenancy with right of survivorship.
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A Texas couple gets married. The wife owns a car free and clear that she purchased three years before the wedding. Under the Texas Family Code, what is the classification of this car?
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A Texas license holder is working with a married buyer whose spouse refuses to participate in a property purchase. The buyer wants to use community funds for the purchase. Under Texas law, what is the MOST accurate advice the license holder should provide?