Question
A. Sam and Sara, a married couple, lived in Virginia, however, they recently moved to Texas (CP state). Following their move to Texas, Sam inherits
A. Sam and Sara, a married couple, lived in Virginia, however, they recently moved to Texas (CP state). Following their move to Texas, Sam inherits a vacation home from his grandparents.
B. While still living in Virginia, Sam managed to place $100 per month in a savings account titled in his name only. After moving to Texas, the account remains in his name in the separate account.
C. Sara owned a condo before she married Sam, however, she sold the condo and invested the proceeds in a mutual fund.
D. In Texas, Sara decides to purchase a new Mercedes Benz with money from their joint checking account.
Which of the above assets are community property assets?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started