Frequently Asked Questions About Property Division
Below you will find answers to some of our clients’ most frequently asked questions about Texas’ property division laws. Each state’s laws are different, so it is important to understand how your assets will be divided during divorce. Our experienced attorneys can answer any of your questions that are not listed below.
For more information about property division, call our Round Rock or Austin offices at 512-478-7466.
- What Does It Mean That Texas Is A Community Property State?
- Is All Property Community Property?
- Are Assets Divided 50-50?
- What Factors Do The Courts Take Into Consideration?
- What Happens If Only One Spouse’s Name Is Listed On The House Deed?
Under Texas law, property is generally categorized as joint property if it is acquired by either you or your spouse during your marriage. As community property, it will be divided during divorce.
While most of your assets are considered marital property, there are notable exceptions. Property is separate if it is given to either spouse as a gift, inherited, purchased before the date of your marriage or awarded in a personal injury claim.
Texas divides assets “equitably” between spouses, but this does not necessarily mean 50-50. The court evaluates and enforces a fair property distribution after analyzing your family’s overall circumstances.
To determine property division, the courts may take a number of factors into consideration, including your earning capacity, which parent will have physical custody of the children, existing physical and mental health concerns and the size of your estate.
Many people are concerned that they lose the right to their house or car if only their spouse’s name is listed on the deed. If purchased after your marriage, these items are considered community property. While we cannot predict who will retain the right to live in the house after divorce, each spouse is entitled to a portion of its worth.