Legal Question in Family Law in Texas
is interest income considered community property in the state of Texas.
1 Answer from Attorneys
Yes, unless the spouses have a written agreement to the contrary, actually even any income (interest, dividends, rental income, etc.) that comes from separate property during the marriage is considered community property. If you mean something along the lines of interest earned from a savings account funded with money taken out of a spouse's paycheck during the marriage, that would also very much be community property. The basic rule is that it's all community property unless proven otherwise. The most common exceptions would probably be property owned by a spouse before marriage and gifts to or inheritances of a spouse, all of which would be and remain separate property unless that spouse decided.to do something to change the property's characterization.