Property Division

Property Division | Family Law Attorney in Texas

If you’re getting a divorce, how will you divide property?

Because divorce is based on state laws, property division differs somewhat in various states. There are basically two different types of property in Texas: community property and separate property. Texas is a community property state. The main focus in a community property state is characterizing the property. Courts must determine what property is community property and what is separate property.

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Property-Division

What is separate property?

Separate property is property that the spouses acquired:

  • Prior to marriage
  • From an inheritance or gift
Separate property is not subject to property division in a divorce case.

What is community property?

Community property is property that a spouse acquired or earned during their marriage. Examples would be gross income, the family home, vacation homes, investments, retirement accounts, bank accounts, long-term insurance, real estate purchases, and so on. When spouses mix (co-mingle) separate property with community property, the courts tend to classify it as community property.

What is separate property?

Separate property is property that the spouses acquired:

  • Prior to marriage
  • From an inheritance or gift
Separate property is not subject to property division in a divorce case.

What is community property?

Community property is property that a spouse acquired or earned during their marriage. Examples would be gross income, the family home, vacation homes, investments, retirement accounts, bank accounts, long-term insurance, real estate purchases, and so on. When spouses mix (co-mingle) separate property with community property, the courts tend to classify it as community property.

What is separate property?

Separate property is property that the spouses acquired:

  • Prior to marriage
  • From an inheritance or gift
Separate property is not subject to property division in a divorce case.

What is community property?

Community property is property that a spouse acquired or earned during their marriage. Examples would be gross income, the family home, vacation homes, investments, retirement accounts, bank accounts, long-term insurance, real estate purchases, and so on. When spouses mix (co-mingle) separate property with community property, the courts tend to classify it as community property.

What factors can influence community property division in a Texas divorce case?

There are a number of factors that the court might take into consideration when dividing community property. Factors include:

  • Child custody
  • Payments owed for child support or spousal support
  • Differences in earning capacities
  • The health of both spouses
  • Age differences of spouses
  • Fault for the marriage breakdown
  • The value of separate property each spouse owns
  • Gifts received by each spouse
  • Anticipation of future inheritances
  • Real estate property owned in other jurisdictions
  • Waste or careless use of community property
  • Tax considerations
  • Litigation and attorney fees
Property-Division

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How does property division differ in a divorce after age 50?

Spouses in this category have typically been married for a long time. They have acquired more assets than younger couples, and therefore have a greater amount of community property to divide. Retirement accounts, pensions, long-term insurance, real estate and other investments may be part of their accumulation of property.

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Law Office of Lindsey J Wilson

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Law Office of Lindsey J. Wilson

Address 4305 Windsor Centre Trl, Ste 500
Flower Mound, Tx 75028

 phone       Phone: 469.933.6091

 

 

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Do You Have Questions About Property Division?

We are glad to answer your questions and to help you address property division during divorce. Either give us a call at 469-933-6091 or contact us through our online form.

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