Divorces can be highly complicated, especially when it relates to property. When a couple gets divorced in Texas, their assets are divided by separate or community properties. It’s why it is beneficial to hire a McAllen divorce lawyer. We want to share three things you need to know about community property law in Texas.
What are Community Properties?
Community properties are any property acquired and equally owned by both parties throughout a couple’s marriage. Examples of the types of community property that both spouses will need to discuss with their McAllen divorce lawyers are:
- Real estate
- Family home
- Retirement plans
- Joint bank accounts
- Contributions to pension
- 401K or retirement accounts
- Unemployment compensation
How to Prove Property is Separate
A good rule of thumb to consider to determine whether a property is separate is by looking at all the property a spouse owned before the beginning of a marriage. Additionally, Texas law will ensure the protection of any property gained during the marriage if it is strictly under one of the spouse’s names with recorded proof, such as:
- Transfer agreements
- Purchase agreements
- Private banking account
- Separate debt and income
If you aren’t sure about specific property, you can always ask a McAllen divorce lawyer for help.
Factors Court Uses to Divide Community Property
Texas courts do not need to divide any marital property equally. Community properties are typically divided according to the following factors:
- Child custody.
- The needs of their children.
- The fault of anyone who broke up the marriage.
- Education and earning capacity of both spouses.
Both spouses are responsible for debts regardless of who’s name is on the title, which includes: car titles, credit card agreements, mortgage contracts, and more.
Contact Our McAllen Divorce Lawyers Today
Our divorce attorneys can help you understand what community properties need to be assessed and divided between you and your ex-spouse. We will help you with any legal paperwork and advice required throughout your divorce. Be sure to send us a message online if you have any questions about the divorce process and our services, or give us a call at (956) 287-7555 for a FREE consultation.