Texas Family Code 3.005 – Gifts Between Spouses
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Terms Used In Texas Family Code 3.005
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: means real and personal property. See Texas Government Code 311.005
If one spouse makes a gift of property to the other spouse, the gift is presumed to include all the income and property that may arise from that property.