Marital Property vs Separate
Property in Divorce
When it comes to divorce, marital property, also identified as marital assets, spousal assets, or community property, is significant. Separate property, in most cases, refers to assets owned prior to marriage; marital property, on the other hand, refers to assets acquired during the marriage. Nevertheless, the lines between these classifications can blur – this is known as comingling – and separate property could become marital property when this happens. When separate and marital assets are combined, all of those assets could become part of the marriage and (thus) be regarded as marital property.
Is a house bought before marriage marital property?
Property obtained prior to the beginning of the marriage is recognized as separate property of that partner under Texas law. The law also protects property acquired or received by a husband or wife during the marriage if the partner can demonstrate that the property is in his or her sole management and ownership. Documents such as recorded deeds, purchase agreements, transfer arrangements, and separate property contracts can be used as evidence.
Furthermore, if each spouse keeps a private banking account, debt, and income, they could be able to keep that money safe from division. According to the Texas State Historical Association, unless those factors are present, the court assumes that earnings from a job or from separate property remain separate.
How does separate property become marital property?
Separate property can also be converted into community property in much less complicated circumstances. After your marriage, if you add your spouse’s name to the title of an asset, it’ll become community property. It isn’t even necessary to be that structured. Simply treating specific personal property could achieve the same result. If you bring furniture and household goods into the marriage and use them interchangeably without regard for ownership, those items have most likely become community property.
Is Texas a community property state?
Yes, Texas is one of the 9 community property states in the US. All property procured after marriage is owned jointly by both spouses in community property jurisdictions, whereas all property obtained before the marriage is usually regarded as separate property. Separate property is exempt from asset division in a divorce. Even after a divorce, the spouse who owns separate property retains sole ownership of that property. This is true even if the property is very substantial, such as a home that the couple shared during their marriage.
Texas Community Property
When a couple divorces in Texas, their marital assets are divided according to community property laws. This can be very confusing, and people may be uncertain of what they can claim or how the property should be divided. The Texas Family Code divides property owned by married people into two categories: community property and separate property. Property acquired during a marriage is essentially considered joint property of both partners unless it qualifies as separate property. This means it is managed, disposed of, and controlled by the spouses.
Is inheritance community property in Texas?
No, in most cases. Property acquired “by gift, device, or descent” is considered separate property under Texas law. Property procured prior to the marriage is also exempt. Most civil litigation awards are also separate property. Everything else is community property, which is divided between the spouses in the event of divorce.
Texas divorce – Who gets the house?
You probably bought your house during your marriage, and that makes it community property. If you don’t have a pre or post-nuptial agreement, the divorce court divides community property in a way that is “just and right, having due regard for the rights of each party and any children of the marriage.”
There are no specific, concrete rules for deciding who gets the house in a divorce, but the factors listed above can help you prepare for how your decree may turn out or what proof you will need to keep the house. The house could go to one or the other spouse depending on the specifics of y our case.