Co-Ownership of Property in Texas

Dated: 07/22/2019

Views: 68

Co-Owners Who Are Married

A surviving spouse does not necessarily inherit the entire interest in the home when the other spouse passes away. First, it is necessary to determine if the deceased spouse died "testate" (with a will) or "intestate" (without a will). If a spouse dies intestate, the property automatically vests 100 percent in the surviving spouse only if the property is community property and the deceased had no children, or if there are children, all of them are the result of the marriage between these two spouses (i.e., there are no children from a prior marriage).

Co-Owners Who Are Not Married

Texas law presumes that if two nonspouses are named as co-owners, then they are tenants-in-common - in other words, each person owns an undivided one-half interest in the property but there is no automatic right of survivorship. When one co-owner dies, the interest of the deceased co-owner goes directly to that person's heir or heirs, either by will or intestate succession. The recipient may or may not be the other co-owner. 

Blog author image

Hava Johnston

The Johnston Home Team Sean and Hava Johnston operate a full service real estate team in North Dallas, specializing in residential properties, estates, investment properties, new construction, short....

Latest Blog Posts

Projects in Uptown Dallas

https://www.dallasnews.com/business/real-estate/2019/08/16/going-uptownMichelle ForemanFourth Generation Realtor, Texas Urban LivingC: 214-394-2487michelleforemanrealtor@gmail.comwww

Read More

Co-Ownership of Property in Texas

Co-Owners Who Are MarriedA surviving spouse does not necessarily inherit the entire interest in the home when the other spouse passes away. First, it is necessary to determine if the deceased spouse

Read More

Dallas is the new millennial hub

https://www.nbcdfw.com/news/business/Dallas-Outranks-All-in-Attracting-Young-Professionals-512992421.htmlMichelle ForemanFourth Generation Realtor, Texas Urban LivingC: 214-394

Read More

DF-W a top area for home price gains

https://www.dallasnews.com/business/real-estate/2019/07/18/texas-citiesamong-tops-country-home-price-gainsMichelle ForemanFourth Generation Realtor, Texas Urban LivingC: 214-394

Read More