Legal Question in Real Estate Law in Texas
If a husband and wife are separated and sell their house, does the profit have to be divided equally between the two? The house is in the wife's name et al.
Asked on 2/23/12, 1:35 pm
1 Answer from Attorneys
Mark Dunn
Mark D. Dunn
Look at the check. Whose name is on it? If it's the wife's name only, she gets to cash the check.
If both names are on the check, then both parties have to endorse it before it can be cashed, and what they do with the money is whatever they agree to.
Depending on certain factors that you didn't tell us about, the proceeds may be community property.
Answered on 2/24/12, 9:23 am
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