Community Property Survivorship Agreement in Texas
Full Question:
Answer:
Texas Probate Code section 46 states that “If two or more persons hold an interest in property jointly, and one joint owner dies … the interest of the decedent in the joint estate shall not survive to the remaining joint owner ...” The law does allow joint owners to agree in writing that when one of them dies, that person’s share “shall survive to the surviving joint owner … but no such agreement shall be inferred from the mere fact that the property is held in joint ownership.”
Unless spouses have a community property survivorship agreement, a deed that specifically has words creating a right of survivorship, or have set up a living trust and deeded the house to the trust, the half belonging to a deceased spouse passes via Will or the intestacy laws.
A survivorship agreemnt actually takes priority over the Will of the person who died, so it is important that you plan carefully. You want to coordinate the same plan in both your Will and in your CPSA. If your estate is uncomplicated and will not be exposed to federal estate tax, then a CPSA may be all you need.
Unfortunately, we do not offer a form for this purpose at USLegalforms. We do have an attorney on staff here who can draft a specific form for someone but your situation would not allow for enough time.
Here is a sample of some of the language you would need in the agreement. Please note that this agreement would have to be modified to list all the property you are sharing. If any of the property is real estate, the agreement would have be recorded on the land records.
COMMUNITY PROPERTY AGREEMENT
It is hereby agreed by and between ________ and ________ , Husband and Wife, Grantees herein, that the following community property shall, in the event of the death of one spouse, vest in and belong to the surviving spouse: ______________
(Signatures)(Printed Names)
(Proper Notarization)