In Texas, all the income and property acquired by the parties in a marriage is considered to be community property and belongs to both the husband and the wife. When they decide to divorce, the property should be split equally. The debts that each of the spouse incurs in the course of the marriage will also considered as community debt and belongs to both parties in the marriage equally. However, there are instances when the court may order that there will be an unequal split.
The court usually starts its evaluation with a presumption that all the property that a couple owns is community property. This includes all forms of properties that were acquired throughout the marriage. A spouse who wants to remain with a given piece of property must convince the court that the asset in question is separate property.
Separate property is a term used in Texas to refer to the things that belonged to one of the spouse before marriage. Also, the property must have been kept separately during marriage. Separate property also includes things that may have been given only to one spouse in the course of the marriage such as a gift that a friend or family member gives the husband or the wife, inheritance etc.
www.Mdalaw.com divorce attorney houston If one spouse suffers from personal injury and receives compensation for the injuries suffered, the money will still remain as separate property of the spouse who was injured. The only exception is when the compensation was meant to compensate for the loss of income that the couple suffered from because of the injury.
The common types of property divided equally include things like the family house, jewelry and clothing, dividends, income and benefits. All property regarded as community property must be divided equally when a marriage comes to an end. The debts will be divided equally as well. When one spouse proves that a given asset is a separate property, the asset will remain as his/her property. The court will not award it to the other party in the divorce click here.