What is the Difference Between Separate Vs. Community Property in TX?
Texas marital property laws hinge on the concept of community property,
meaning that all property or income shared by a couple is divided equitably
upon divorce. Keep in mind, “equitable” does not mean “equal”—it
simply means a division the court believes to be appropriate under the
circumstances and in consideration of many factors. Unless a prenuptial
or some other agreement is involved, all possessions acquired during a
marriage are subject to this division. However, there are some exceptions
that fall into the category of separate property.
Common examples of separate property include:
- Family heirlooms or inheritance
- Belongings from before marriage
- Personal injury awards (other than lost wages)
How is Property Divided in TX?
The court can either divide the property equally or give one party a disproportionate
share. This decision is based on many factors, including the income or
income potential of both parties, the custody arrangement, the separate
property involved, and the size of the community estate.
The three main steps in property division are:
- Determining which property is community and which is separate
- Calculating the value of the community property
- Deciding how to divide the community property
Importance of Experienced Legal Representation in Property Division
Because the majority of people don’t anticipate divorce, it can be
challenging to sort which property is owned by the community and which
is separate. Our team of Austin property division attorneys has been helping
countless individuals and families reach reasonable and equitable division
of both large and small estates. Additionally, we have handled many cases
involving unusual property, including small, private businesses in which
determining value can be a challenge.
To learn more about how our property division attorneys can help you,
contact our firm today at
(512) 668-7133. We are located in Austin and serve Travis and Williamson counties, and