Investments bought with inherited monies
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Investments bought with inherited monies
(Texas) 2nd marriage, Husband inherited money/property. I know inheritance is not community property.1. IF inheritance money was used to buy/develop property after marriage is that considered community property? 2. any monies received from such property is that considered community property also?
Asked on June 29, 2009 under Estate Planning, Texas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
You are correct in noting that an inheritance is separate property.
In Texas, the appreciation or increase in value of separate property is generally considered separate property. However, reimbursement may be due to one spouse or the community for contributions made during the marriage to enhance the value of one spouse's separate estate. Through something known as "economic contribution", the non-owner souse may also share in the appreciation of the property. Additionally, income or interest earned on separate property is community property. It is necessary to advise the court if you believe that you have a claim for reimbursement. The sooner the better.
This can be a very complicated issue, and is one that is best addressed by consulting with an attorney in your area.
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