79R130 KKA-F
By: Goodman H.B. No. 202
A BILL TO BE ENTITLED
AN ACT
relating to certain marital property agreements.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 4.102, Family Code, is amended to read as
follows:
Sec. 4.102. PARTITION OR EXCHANGE OF COMMUNITY PROPERTY.
At any time, the spouses may partition or exchange between
themselves all or part of their community property, then existing
or to be acquired, as the spouses may desire. Property or a
property interest transferred to a spouse by a partition or
exchange agreement becomes that spouse's separate property. The
partition or exchange of property may also provide that [includes]
future earnings and income arising from the transferred property
shall be [as] the separate property of the owning spouse [unless the
spouses agree in a record that the future earnings and income will
be community property after the partition or exchange].
SECTION 2. Section 4.104, Family Code, is amended to read as
follows:
Sec. 4.104. FORMALITIES. A partition or exchange agreement
under Section 4.102 or an agreement under Section 4.103 must be in
writing and signed by both parties. Either agreement is
enforceable without consideration.
SECTION 3. The changes in law made by this Act to Sections
4.102 and 4.104, Family Code, apply only to agreements made on or
after the effective date of this Act. An agreement made before the
effective date of this Act is governed by the law in effect on the
date the agreement was made, and the former law is continued in
effect for that purpose.
SECTION 4. This Act takes effect September 1, 2005.