Legal Question in Family Law in Texas
Community Property - Homestead
FACTS: My wife and I recently purchased a home in Texas, a community property state. We purchased the home ''in my wife's name'' utilizing FHA financing (non-purchasing spouse) due to my poor credit. My wife was the only one listed on the loan application and subsequent financing documents. The deed lists both of our names, but also stated ''Her sole and separate property''. The down payment and closing costs were gifted from me to my wife and this was documented in the mortgage file. We both saved funds for closing and deposited into an account in my name only for a period of 8 months prior to closing (we were married during the time we saved money, but the account was established prior to our marriage and has been maintained separately).
QUESTION: Do I have a legal ownership interest in the house in the event of divorce?
2 Answers from Attorneys
Re: Community Property - Homestead
It's tough to say - this statement does not make sense because it should be one way or the other but not both: "The deed lists both of our names, but also stated 'Her sole and separate property'." What you should do is get all your documents together and have an attorney review them. That's the only way you will be able to get a worthwhile opinion.
Re: Community Property - Homestead
Thanks for giving such detail, it helps to be able to know these kinds of facts.
An attorney would need to read ALL of the documents to answer your specific question. I can tell you GENERALLY that all property is presumed to be community if it is acquired during marriage OTHER than by gift, inheritance, or as a recovery for certain personal injuries. So in the event of a divorce, IF she could prove that the house was purchased with gifted funds then she could argue that the house is her separate property and the documents would back her up.
The community estate, however, could have a right of reimbursement for payments made on the house or the cost of improvements.
Property issues such as this can be very complicated and require a lot of tracing of funds from one account to the other. The name on the deed, by itself, is not determinative, but is is a strong piece of evidence. The time to fix the situation, if you want to, is now, not when there is a divorce pending.
Please call my office for an appointment (512-477-6200) if you live in the Austin area and would like to discuss this further.
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