Are the proceeds from the sale of inherited property considered marital property?
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Are the proceeds from the sale of inherited property considered marital property?
My husband’s father died a little over a year ago and left him some property. My husband serve me with divorce papers last June. The divorce is not yet final and the property is being sold now. I know that The property itself is not community property.
Asked on November 17, 2015 under Family Law, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
The property itself is separate property. However, any income generated from separate property is considered community property. The determination that will need to be made is whether or not the sale will generate any income. Considering that he just got the property a year ago-- the value in that time frame may not have increased significantly-- but it's worth asking the question depending on what you think the income on the sale will be.
Another option to keep in mind is that if any community funds were used to help support his separate property, then you may be able to make a claim for reimbursement. For example, if the taxes on the estate were paid by your marital community in the amount of $1000.00-- then his separate property should reimburse the community estate for that same amount.
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