State Exam -Special Topics in Texas Real Estate.pdf file:///C:/Users/HP/Desktop/New%20folder%20(3)/State%20Exam%2
State Exam -Special Topics in
Texas Real Estate
1. Community Property: is a type of co-ownership where property is owned by a
married couple, in which each spouse has ½ ownership of any property obtained
during the marriage, plus a right of survivorship ownership after the death of either
spouse. Texas is a community property state.
This arrangement is generally created by community property laws, under which the
ownership interests in any property that is acquired during the course of a marriage
are automatically divided equally between the two spouses
2. Transferring Community Property: This means that all property acquired during a
marriage belongs equally to both individuals and will be equally divided if their
marriage is dissolved.
If a spouse passes away without a will, their half of the property passes on to
their spouse, unless there are stepchildren. If there are stepchildren, the deceased
spouse's half of the property is passed on to the deceased's heirs
1/
1 of 13 12/10/2024, 8:13
,State Exam -Special Topics in Texas Real Estate.pdf file:///C:/Users/HP/Desktop/New%20folder%20(3)/State%20Exam%2
3. Separate Property: Community property laws do not govern property that is
received by an individual as an inheritance or gift and they do not apply to property
acquired prior to the marriage
However, if one spouse rents out their separate property, that income is considered
community property (unless there is an agreement specifying otherwise).
4. Descent and Distribution: It determines who gets what share of a deceased
person's property. Distribution depends on whether the person is married, has
children, and/or has surviving parents or siblings.
5. Homestead Rights: a homeowner has automatic state constitutional homestead
rights on their owner-occupied primary residence. This right is automatic (like I just
said) and protects homeowners from claims by creditors being made against their
homes, preventing any eviction by these creditors.
This protection does not encompass all creditors. There are, of course, some
exemptions, such as in a mortgage where the homestead is used as security for the
debt or when there is a federal tax lien.
6. Protection from Forced Sale: The notion of the homestead has always been
revered in Texas. The Texas Constitution (section 28) and Property Code section
42.001(b)(1) provide that the homestead of a family or single adult is protected from
2/
2 of 13 12/10/2024, 8:13
State Exam -Special Topics in
Texas Real Estate
1. Community Property: is a type of co-ownership where property is owned by a
married couple, in which each spouse has ½ ownership of any property obtained
during the marriage, plus a right of survivorship ownership after the death of either
spouse. Texas is a community property state.
This arrangement is generally created by community property laws, under which the
ownership interests in any property that is acquired during the course of a marriage
are automatically divided equally between the two spouses
2. Transferring Community Property: This means that all property acquired during a
marriage belongs equally to both individuals and will be equally divided if their
marriage is dissolved.
If a spouse passes away without a will, their half of the property passes on to
their spouse, unless there are stepchildren. If there are stepchildren, the deceased
spouse's half of the property is passed on to the deceased's heirs
1/
1 of 13 12/10/2024, 8:13
,State Exam -Special Topics in Texas Real Estate.pdf file:///C:/Users/HP/Desktop/New%20folder%20(3)/State%20Exam%2
3. Separate Property: Community property laws do not govern property that is
received by an individual as an inheritance or gift and they do not apply to property
acquired prior to the marriage
However, if one spouse rents out their separate property, that income is considered
community property (unless there is an agreement specifying otherwise).
4. Descent and Distribution: It determines who gets what share of a deceased
person's property. Distribution depends on whether the person is married, has
children, and/or has surviving parents or siblings.
5. Homestead Rights: a homeowner has automatic state constitutional homestead
rights on their owner-occupied primary residence. This right is automatic (like I just
said) and protects homeowners from claims by creditors being made against their
homes, preventing any eviction by these creditors.
This protection does not encompass all creditors. There are, of course, some
exemptions, such as in a mortgage where the homestead is used as security for the
debt or when there is a federal tax lien.
6. Protection from Forced Sale: The notion of the homestead has always been
revered in Texas. The Texas Constitution (section 28) and Property Code section
42.001(b)(1) provide that the homestead of a family or single adult is protected from
2/
2 of 13 12/10/2024, 8:13
