Property division can be one of the more complicated aspects of divorce. Below are answers to the most commonly asked questions regarding the division of property during a divorce. These are general answers and a consultation with a lawyer is recommended to properly evaluate your case. Contact your Houston divorce attorney today for a complimentary consultation.
What is the Marital Estate?
The Marital Estate is all property owned by the spouses including separate property and community property.
What is Separate Property?
A spouse’s separate property consists of property owned by that spouse prior to the marriage, gifts, inheritance, property that has been left to the spouse in a will and awards received for person injury claims (with some exceptions).
What is Community Property?
Community property is all property other than separate property acquired by either spouse during the marriage. Texas is a community property state.
How Do I Know if Property is Community or Separate?
In Texas, all property owned at the time a divorce is filed is presumed to be community. By following the above definitions it can be fairly easy to show a court what property is separate and what property is community. Money in bank accounts, retirement benefits and other types of property may be more difficult to identify as community or separate property. If the parties cannot reach an agreement, the court will determine the status of the property after hearing evidence presented by you and your attorney.
How Do the Courts Divide Property?
The court will divide the marital estate in an equitable or fair manner after considering the rights of the spouses and any children of the marriage. The spouses may divide their property as they see fit if an agreement can be reached,
Am I Entitled to 50 Percent of the Property?
Upon divorce, each spouse is generally entitled to fifty percent of all community property. However, courts can award a disproportionate share of property to a spouse due to the other spouses fault in the breakup of the marriage. You lawyer will help you determine if fault is a factor in your divorce.
Contact a qualified Houston Divorce Attorney here at The Rudisel Law Firm, P.C. for a complimentary consultation to discuss Property Division and its effects on a Divorce in Houston, Texas.