This form is a Community Property Survivorship Agreement. The agreement will apply to all community property currently owned or acquired in the future by the husband and the wife. The form provides that on the death of either party, the subject property will vest in the survivor.
Texas Community Property With Right Of Survivorship Agreement
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US-02538
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Word;
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How to fill out Community Property Agreement?
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FAQ
Generally speaking, each spouse has a right to half of the community property and so, this is automatically distributed to a widow after their spouse's death.
During the owner's life he or she can designate a co-owner as joint with right of survivorship. This is done by using Texas Department of Motor Vehicles (DMV) Form #VTR-122. If that hasn't been done prior to the owner's death, there is a DMV form called Affidavit of Heirship that can be used to transfer the title.
Have a ?Survivorship Rights? remark placed on the Texas title: Submit this completed Form VTR-122 with an Application for Texas Title and/or Registration (Form 130-U) to a county tax assessor-collector's office. In addition to the remark, up to two names can be printed as survivors on the Texas title.
The right of survivorship agreement must be filed with the county court records where the couple lives. This can be a way that married couples can see to it that all community property stated in the agreement automatically belongs to the surviving spouse without having to go to probate court.
On November 3, 1987, Texas voters approved an amendment to Article 16, Section 15, of the Texas Constitution. It states, ". . . and spouses may agree in writing that all or part of their community property becomes the property of the surviving spouse on the death of a spouse.