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Understand Texas property division laws

There are many things that people misunderstand about property laws in Texas, especially when it comes to who gets what during a divorce. Texas uses the concept of community property to determine how assets are divided. There are several different things that you should know about this process.

Community property laws here use the classification of a property when it is acquired to determine what will happen to it during a divorce. Typically, assets that you get while you are married will be split between you and your soon-to-be ex. It doesn't matter what happens after you get the property.

There are some types of property that are considered separate property here. Certain types of damages in personal injury awards, birthday gifts, items you had going into the marriage, family heirlooms and inheritances fall under this category.

There are some items that might fall into both categories. Gifts that are meant to be shared by both spouses are one example of this. These might be considered half one person's property and half the other party's item.

You need to think carefully about each item's classification. This can help you determine how to address it during the property division process. You and your ex might choose to work through the mediation process to determine how everything is going to get split.

Remember that you need to walk away with a property division settlement that is in your best interests. You will have to divide debts, too. Using these to balance out the settlement might a good idea, especially if the assets are difficult to divide evenly.

Source: FindLaw, "Texas Marital Property Laws," accessed Oct. 20, 2017

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