What Is Community Vs. Separate Property?
When dividing property in a divorce, it is important that you understand your rights to avoid being placed in a bad financial situation or to get less of a share of marital assets than you deserve. At Law Office of Randy Mora, PLLC, we make it a priority to keep our clients informed and educated about the law and their options. Below, you can find a brief summary of how courts divide marital property in a Texas divorce.
Property Division In A Texas Divorce
Texas is one of only a few “community property” states in the country. Community property is property acquired by either spouse during the marriage. Courts consider marital property as owned by both spouses and must be divided in a “just and right” manner in a divorce.
Experienced divorce lawyer can help you determine what property is community property, and what property is separate. Because separate property is not subject to division in divorce proceedings, your financial health can be greatly impacted by what the court considers to be community property.
So What Is Community Property?
Community property is property purchased or acquired during the marriage — by either spouse — that is not separate property.
To clarify, that means any purchase, even if in the name of only one spouse, is community property. For example, if one spouse purchased, has sole title and is the only one who has paid for a car, it is still community property, provided it was purchased during the marriage.
However, community property is not necessarily subject to a 50-50 split. The court considers a variety of factors to reach a “just and right” division. These factors can include:
- The earning capacity of each party
- Their age and health
- Where minor children will be living, if applicable
Keep in mind, however, that property division is not the same thing as alimony.
What Is Separate Property?
Separate property is limited to property that belongs to either spouse prior to entering the marriage. In addition, certain kinds of property, such as inheritances and damages from lawsuits, are considered separate property. Spouses can also agree to separate property in a prenuptial agreement.
How We Can Help
Family law attorney is an experienced and award-winning attorney in San Antonio, Texas. Named to the Top 40 Under 40 by The National Advocates in 2016 and 2017, he is dedicated to obtaining a fair division of assets for our clients. A skilled litigator, our firm can handle even the most complicated and high-asset divorces.
To learn how we can help, call 210-446-0306 to schedule your initial consultation. You can also email us, and we will respond promptly.