Property in Texas

[HidaHorton]

What is the name of your state (only U.S. law)? Texas

My husband purchased our home with borrowed money from his brother a week before we got married. We were in a hurry to get into our new home and didn't want to wait the 6 weeks for a "home loan". We wanted to be settled in before our kids started school. A week AFTER we were married, he went to GMAC Mortage and took out a home loan to pay his brother back (all this was part of our plan)...the loan is under his name. We have been married for 7 years now, and our future is not certain. Is our home considered "community property" or not??What is the name of your state (only U.S. law)?

 

[LdiJ]

What is the name of your state (only U.S. law)? Texas

My husband purchased our home with borrowed money from his brother a week before we got married. We were in a hurry to get into our new home and didn't want to wait the 6 weeks for a "home loan". We wanted to be settled in before our kids started school. A week AFTER we were married, he went to GMAC Mortage and took out a home loan to pay his brother back (all this was part of our plan)...the loan is under his name. We have been married for 7 years now, and our future is not certain. Is our home considered "community property" or not??What is the name of your state (only U.S. law)?

Yes, your home would be community property.

Even if it could somehow be considered as separate property, the equity that accrued during the marriage would still be community property, and in your case, that is basically all of the equity.

 

[HidaHorton]

Thank you!