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Can Recent land bought be community property?

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G

gladyce

Junior Member
Texas

My husband owned 10 acres and a house when we were married February 14, 2002. This was an inherited property that his two sons will be given in event of his death. This is where he and I live.
Six months ago, my husband bought the 16 acres that adjoined that property and was only separated by a fence. He payed for this 16 acres out of his 401K.
We are seriously considering legal separation now and he says that the land will not be considered community property since he already had the money in his 401K when we got married. Is this true?
 
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I

I AM ALWAYS LIABLE

Senior Member
gladyce said:
Texas

My husband owned 10 acres and a house when we were married February 14, 2002. This was an inherited property that his two sons will be given in event of his death. This is where he and I live.
Six months ago, my husband bought the 16 acres that adjoined that property and was only separated by a fence. He payed for this 16 acres out of his 401K.
We are seriously considering legal separation now and he says that the land will not be considered community property since he already had the money in his 401K when we got married. Is this true?
Click to expand...

My response:

He is right, and wrong. He's right about the fact that the money used for the purchase was separate funds. All he did was convert separate funds in real estate. So, the purchase price of the land is separate. He's wrong, however, when it comes to the land "appreciation" in value up to the date of actual divorce. The value of the land ABOVE the purchase price is, in fact, community property. So, he'll owe you 50% of that amount over the purchase price.

IAAL
 
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