Division of Property in Texas
When there is little or no marital property, no children and no spousal maintenance, spouses can usually obtain a quick divorce by having an attorney draft a divorce agreement and having a judge approve it. Most divorces, however, are quite different and far more complex. Issues that complicate divorces include considerable marital property (both personal property and real estate), children, family businesses, large or concealed debts, trust funds, real estate in other states, joint and separate bank accounts, investments, insurance, pensions and other assets. In these complex situations, the parties often require the assistance of the court to divide their property. Working with a Texas family law attorney will ease your stress and help you get through the process to begin your new life. Call today to schedule a consultation.
In Texas, community property rules govern the division of property. However, Texas, unlike other community property states, does not have to divide this community property owned by the parties equally. The court is only required to divide the property in a "just and right" manner. Any separate property is retained by the spouse who owns it.
Usually, all earnings acquired during marriage and everything obtained with those earnings are community property. All debts incurred during marriage, unless the creditor was specifically looking to the separate property of one spouse for payment, are obligations of the community property estate.
On the other hand, separate property typically includes:
Conflict may arise when separate property is mixed with community property. Sometimes, one spouse may be able to identify which portion of the property is separate. One example of this is when a house is owned before marriage and continuing mortgage payments are made throughout the marriage. Otherwise if the separate property becomes mixed with the community property, and the two cannot be distinguished, the entire thing becomes community property.
Property to be divided
Certain kinds of property continue to create controversy during divorce, even under the division rules of the community property system. Divorcing couples need to be aware of these assets and the issues their division may present. Some of the most troublesome assets include:
In each case, complexities of ownership can complicate a divorce.
Speak to a Texas divorce lawyer
Many couples have a difficult time reaching an agreement about how to divide their property. Because the division of property depends on the complexity of your assets and liabilities, it is important to consult with a knowledgeable family law attorney for assistance if you anticipate the division of property is likely to be an issue of controversy in your divorce. Call today to schedule a consultation.
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