Principles of Real EstateQuestion 12 of 120
Texas is a community property state, which generally means that property acquired by either spouse during marriage is:
a.Presumed to be owned equally by both spouses
b.Always owned solely by the spouse who earned the money
c.Automatically owned by the spouses' children
d.Exempt from any creditor claims
Explanation
In a community property state, most assets acquired during marriage are presumed owned equally by both spouses regardless of whose income paid for them. Property owned before marriage or received by gift or inheritance is generally separate property.
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