Texas Laws regarding spouse

[Anonymous]

I am putting a mod home on land that was given to me by my parents in my name only, while I have been married.  I have been married for 10 years and live in Texas.  The mortgage loan is also in my name only.  I am well aware that if anything happens, my wife is entitled to half, but my parents want everything to stay in my name, and my wife doesn't care because her parents feel the same about properties they own.  The company I am purchasing from is now telling me that my wife needs to be on the title and such, which I don't understand, is there some law in Texas where married people cannot purchase things individually?

[Anonymous]

This is from what I gather:

"Community property" is any property acquired by either or both spouses during marriage by other than gift or inheritance. This includes virtually everything purchased during marriage.

"Separate property" is property either owned or aquired by a spouse before marriage or aquired by a spouse during marriage by either a gift or inheritance.

[Anonymous]

Thanks for the reply, but it really doesn't do anything to answer my question, I know my house will be community property and if I divorce my spouse will be entitled to half, the question is, is there a law in Texas requiring her name to be on the title?

[IOBA]

I don't know about Texas law specifically, but it has been my experience that in a community property state, a purchase (like the mod home) needs to be titled in both names.   The spouse CAN sign a waiver, waiving the right to the property.

A couple of things may be going on...

1.  The company financing the mod home may be tying in the land to the package.   In general, the places try to do this, so you have a stronger tie to paying off the mortgage.  AND it gives them more equity to play with in case of default.

2.  If the land is tied into the home, they can sell the package or part.

3.  If the land is NOT tied into the home loan, then they are challenged to repo just the home.

4.  If spouse is on the mortgage/title, then they can hold her liable for the debt.

I bought land, put 50% down on it.   Bought a mod home.  Two different transactions.  Two different closings.  The mod financing insisted on refi the whole deal to tie to the house.  I refused.  I walked a way.  

[IOBA]

The mod company decided that they could give my spouse the mortgage on the home only.  They refused to put me on the loan or title.  It was fine -- the land was free and clear of the home.

Please consider keeping land and mod home separate.  

Please consider having your spouse sign a waiver for the title.

With the waiver done, she can not claim 50% of the home in the future, no matter what.   But she can with the land.

Good luck with what you do.