Comment by Stevia Marie Walther
Some management problems which were unresolved under the old community property law still exist under the new law, and the institution of equal management has created new questions about management of community property. This comment addresses three questions, related only in that they all arise under the management rules. First, if the exclusive manager of a community-owned partnership interest or corporate stock enters a buy-sell agreement respecting that interest or stock, is the other spouse bound to that agreement after termination of the community regime? Second, can a spouse who, under the former law, validly created a collateral mortgage without the consent of the other spouse now use that collateral mortgage to secure a loan without procuring his spouse's consent? Third, what is required to satisfy the concurrence requirement, and what is the effect of a transaction entered without concurrence where it was required?
About the Author
Stevia Marie Walther.
Citation
60 Tul. L. Rev. 821 (1986)