CP Management Flashcards
1
Q
Management - General Rule
A
Equal management/control to buy/sell/contract CP
2
Q
2 Management Exceptions
A
- Personal Belongings: can’t sell/enc. personal property used in family w/dwelling w/out others written consent (voidable + need not return purchase price)
- Business: can’t sell/enc. personal property used in business w/out written notice
3
Q
Management - Transfer of CP RE
A
- . Can’t sell/enc. own 1/2 interest (Family Atty Real Prop Lien exception)
- Need both spouses to join instrument if > 1 yr lease
- 1 Year SOL from filing of transfer doc (no SOL if buyer knew of marriage)
- Spouse can trump BFP if shows she didn’t know or consent to transfer
4
Q
Management - Debt
A
- Debtors can reach CP (except spouse’s “earnings” (comp for personal services) if in separate account and not co-mingled with CP).
- Can’t reach other’s SP except for spouse/kid necessities (Family Code: still married until divorce)
- After divorce, can’t reach other spouse’s CP unless they incurred debt or were assigned debt by court (both liable)