Property Division: How is the property division decided?

decided division Property
0
Posted

Property Division: How is the property division decided?

0

If you and your spouse enter into a written property division, the Courts will almost always approve the agreement. If the parties cannot agree on a division of property, then the Court will divide the parties’ community property “in a manner the Court deems just and right, having due regard for the rights of each party and any children of the marriage.” Contrary to popular impression, the Court is not required to divide community property 50%/50%. Some of the factors the Court may consider in dividing community property are disparity of income, education and training, health, age, fault in break-up of marriage, nature of property, custody of children, and the parties’ capabilities. Texas is a community property law state, unlike most states which are not. There are two types of property in Texas, “community property” or “separate property” defined by Texas statutory and case law. Basically property acquired while you are married is community property unless it was a gift to one of the

Related Questions