As you begin the divorce process, you may be wondering how the courts in
Houston will divide you and your ex’s property. Learn more about
the process from a Houston divorce attorney.
The state of Texas considers all income and property acquired during the
marriage as community property. Community property means that these assets
belong to both spouses equally, thus during a divorce, the Houston family
courts will do their best to split the assets equally. In addition to
income earned and property acquired, any debt incurred by both members
of the marriage will be split equally unless there is considerable evidence
for assets to be split differently.
Community Property vs. Separate Property
Community property is legally defined as property obtained or earned during
the marriage that isn’t separate property. Spouses who choose to
keep certain properties separate from the division of property must prove that
the asset was separate from the marriage. Examples of separate property include property gifted to one of the spouses
by a member of his or her family or an inheritance received from a family member.
Property commonly divided in divorce:
- Family home
- Other properties such as vacation or rental properties
The Balancing Act of Property and Debt
While it is standard to split assets and debt evening, the court has discretion
to choose a division that is more fair than equal. The courts will consider
income, earning potential, education, age and health of the spouses when
determining adjustments for property division. In addition to those factors,
Texas courts will also factor in whether one spouse was at cause for the
dissolution of the marriage.
Check out these other pages for more information on divorce and property
What to Expect in High-Net Worth Divorce
Navigating through Contested Divorce
Factors that Affect Child Custody
For more information
contact our skilled
Houston divorce lawyer at (713) 936-2300 today.