DIVIDING MARITAL PROPERTY IN A DIVORCE

One of the largest areas of divorce that is widely contested is that of property division. Texas has a community property status. This however, does not mean that the court has to divide marital property equally between the spouses. Property acquired during the marriage is generally considered community property unless it is separate property for one of the reasons below.

Separate property consists of four factors:

Property owned before a marriage
Inherited property
Gifted property
Recoveries related to personal injury claims

WHAT CAN IMPACT THE DIVISION OF PROPERTY?

In a divorce, there are several factors in Texas that can impact how property is divided up. Some factors include:

Physical Health
Size of Separate Estates
Size of the Community Estate
Gifts Between Spouses
Property in Other Jurisdictions
Fault in Failure of the Marriage

MISTAKES TO AVOID

When discussing the division of marital property, one of the biggest mistakes someone can make is to insist on being the one to ‘keep the house.’ Spouses need to consider the long-term game instead of making a decision out of animosity.

For example; the home is an asset and requires upkeep that may or may not be viable for one parent to undertake. Also, when the time comes to sell the home, the spouse who wanted full ownership may end up getting less than they would have, had the asset been properly assessed as a division choice during the divorce proceedings.