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.