Legal Question in Business Law in Texas
Purchasing Stock
My fiance has a Texas state civil judgement against him. He cannot have any assets beyond the exemptions allowed.
I wish to purchase stock in a company that he is employed with and previously owned stock in( he doesn't own stock anymore). I have borrowed money from my brother to purchase stock in this company without any participation from my fiance,who will not benefit from the dividends.
Is there any legal recourse from his creditors as long as this is an arms length transaction.And also will this be any kind of a legal problem when we get married and become husband and wife? Can they do anything?
1 Answer from Attorneys
Re: Purchasing Stock
The stock you are purchasing will be YOUR separate property, even when you get married. As long as you are acquiring the stock w/ no help from your fiance financially, you have nothing to worry about. Once you are married, the stock equates to prior owned separate property, and his creditors will never be able to touch it.
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