is rental income from separate inherited property community property in a CP state? Texas
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is rental income from separate inherited property community property in a CP state? Texas
House was inherited while married. Rent was collected for 12 years, then the inherited property was sold and a family home was purchased in Texas. Is the rental income considered community property as is interest income? And also is the sale of the inherited property community property over and above the original inherited value? And would that make the house purchased that is the community family home now community property?
Asked on June 19, 2009 under Family Law, Texas
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I'm not a Texas lawyer, and this is the kind of situation where the details, those small facts that you might not think meant much, can be very important. You need an attorney in your area, who can give you advice you can rely on, after he or she goes over the whole case with you. One place to find a lawyer is our website: http://attorneypages.com
One thing that is likely to make a big difference is whether you put the house purchased during the marriage in both names. Most courts consider doing that to be a gift of the separate property into the community or marital estate.
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