Angleton Property Division Lawyers

Community Property vs. Separate Property

Community property includes all assets and debts acquired during the marriage, regardless of which spouse's name is on the title or account. 

Common examples of community property include: 

• The family home
• Vehicles, boats, and plans
• Bank accounts
• Business interests
• Retirement accounts
• Other investments

Both spouses have an equal claim to these assets, which means they must be divided fairly during the divorce.

In contrast, separate property refers to assets and debts that belong to only one spouse. This typically includes property owned before the marriage, inheritances received during the marriage, and gifts given explicitly to one spouse. To be classified as separate property, the owning spouse must demonstrate that the property was not commingled with community assets.

The Division Process

Texas courts aim for a "just and right" division when dividing property. This does not necessarily mean a 50/50 split but focuses on what is fair, considering relevant factors. The court will consider the financial circumstances of each spouse, the length of the marriage, the roles each spouse played within the partnership, and the needs of any children involved. 

Property division can be influenced by each spouse's earning capacity and the disparity in their financial circumstances. If children are involved, the primary caregiver may receive a more substantial share to create a stable living environment for the children. 

While Texas is a no-fault divorce state, evidence of infidelity or other misconduct may influence the court’s decisions regarding asset distribution. The court may consider any unique circumstances warranting a disproportionate property division. 

Debt Division

Not only are assets divided, but debts acquired during the marriage are also considered part of the community property. Debts such as mortgages, credit card debt, and loans taken out during the marriage will be equally divided. Each spouse may become responsible for paying off a portion of the joint debts, which can further complicate the property division process.

Creating a Property Division Agreement

Couples can voluntarily create their own marital property division agreement, often called a settlement or marital property agreement. This legally binding document outlines how assets and debts will be divided and can help avoid lengthy court proceedings. Both parties must understand their rights and be responsible for creating a fair and comprehensive agreement. This underscores the need for knowledgeable and skilled legal representation.