Under the Texas Constitution, a homestead may be subject to forced sale for certain specific types of debts. Which of the following debts can NOT result in forced sale of a Texas homestead?
Correct Answer
A) A personal guarantee on a commercial lease signed by the homeowner
A personal guarantee on a commercial lease is a general contractual obligation. It does not create any of the constitutional exceptions to homestead protection. A creditor holding a judgment based on a personal guarantee cannot force the sale of the debtor's Texas homestead.
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- → A Texas homeowner defaults on a personal loan of $50,000. The creditor obtains a judgment and seeks to force the sale of the homeowner's primary residence to satisfy the debt. Under Texas homestead law, can the creditor force the sale?
- → A creditor attempts to place a lien against a Texas family's homestead for an unpaid medical bill of $25,000. Under Texas homestead law, can this lien attach to the homestead?
- → A Texas homeowner converts their homestead into a rental property and moves to another state. After two years, a creditor seeks to foreclose on the former homestead for an unpaid business debt. Under Texas law, can the creditor force the sale?
- → 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?
- → Before her marriage to David, Sarah owned a rental house in Austin. After the wedding, rental income from the property accumulates in a joint bank account. Under the Texas Family Code, how is the rental income classified?
- → Under the Texas Family Code, what is the legal presumption regarding property acquired during a marriage in Texas?
- → After 10 years of marriage, William inherits a lakehouse from his father. William's wife, Karen, assumes the inheritance is community property because they received it during their marriage. Under the Texas Family Code, who is correct?
- → Under the Texas Family Code, what is the legal term for a written agreement between spouses that converts community property into one spouse's separate property?
- → Under the Texas Family Code, what happens to community property when one spouse dies without a will in Texas?
- → 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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Previous Question
A Texas homeowner wants to obtain a home equity loan. Under the Texas Constitution Article XVI §50(a)(6), which of the following closing requirements is unique to Texas?
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A Texas homeowner has a 12-acre urban homestead. A creditor obtains a judgment for $200,000 and seeks to force the sale of the entire property. Under Texas homestead law, what is the result?