The husband may give, grant, bargain, sell, or convey directly to his wife, and the wife may give, grant, bargain, sell, or convey directly to her husband or the husband and wife may give, grant, bargain, sell, or convey directly to themselves, his, her, or their community right, title, interest, or estate in all or any community property, real or personal. Every such transfer shall operate to divest the property therein described of every claim or demand as community property, and shall vest the same in the transferee or transferees as his, her, or their separate property, as the case may be. No such transfer shall affect any equity in favor of creditors existing at the time thereof.