In a divorce, dividing property involves understanding what the law considers community property and what is not. It’s important to know how these rules affect the division of property to ensure a fair outcome.
What qualifies as community property?
Community property includes assets such as the family home, vehicles, and financial accounts acquired during the marriage. Debts incurred by either spouse during the marriage also fall under this category. However, there are exceptions.
Property owned by one spouse before the marriage remains separate, as does any inheritance or gifts received by one spouse. Personal injury awards are generally separate property unless they compensate for lost wages or medical expenses incurred during the marriage.
How does Texas law divide community property?
Texas law requires that the court divide community property equitably, meaning fairly based on various factors, rather than simply split down the middle. Equitable does not always mean equal, but it often results in an equal division during divorce.
The court considers factors such as each spouse’s earning capacity, education, and financial condition. The length of the marriage and contributions to the household, both financial and non-financial, are also important. The court aims to achieve a fair division that considers both spouses’ needs and future financial security.
Exceptions to equitable division
While most property acquired during the marriage is community property, certain exceptions can influence the division. For example, if one spouse used separate funds to purchase property during the marriage, the court may consider that property separate.
Additionally, prenuptial and postnuptial agreements can establish terms for dividing property, altering the standard community property rules.
Moving forward with property division
Navigating property division in a divorce can be complex, but understanding the basics of community property is essential. Remember that while the law aims for equitable distribution, each situation is unique.