What Does Community Property Mean in Texas and Why Does it Matter? 

 Posted on May 19,2023 in Divorce

Community property is a legal concept that exists in a number of states throughout the United States, including Texas. In the context of a Texas divorce, community property refers to all property and assets that were acquired by a married couple during the course of their marriage, with a couple of exceptions. Community property can include income, real estate, investments, and other assets. Today, we are going to discuss everything you need to know about community property. Remember to hire an experienced divorce attorney to ensure you fully understand community property in Texas and what it entails. 

What Does Texas Law Say About Community Property? 

Under Texas law, both spouses own community property equally, regardless of who earned the income or whose name is on the title. This means that in a divorce, community property is generally divided equally between the spouses unless there is a prenuptial or postnuptial agreement that specifies a different arrangement.

Some examples of community property in Texas include the following:

• Income earned by either spouse during the marriage

• Real estate purchased during the marriage

• Vehicles purchased during the marriage

• Retirement benefits acquired during the marriage

That being said, there are some exceptions to the community property rule in Texas. For example, property that was owned by one spouse before the marriage is generally considered separate property and, therefore, not subject to division in a divorce. Gifts and inheritances received by one party during the marriage are also generally regarded as separate property unless commingled with community property. Furthermore, in a Texas divorce, the court will divide the property in a way that is “just and right,” taking into account factors such as the length of the marriage, the age and health of the spouses, and their earning capacity and financial needs.

While property division may seem like a deceivingly easy process, there are many challenges someone may face along the way, particularly in cases where the community property has been commingled. Your divorce attorney will be instrumental during the process of determining what is community, separate, or commingled property. 

Contact a Palo Pinto Divorce Lawyer

At The Law Offices of Kary L. Key, trust our dedicated Parker County divorce attorney to handle all matters related to your divorce. For more information, call us at 817-599-6969 for a private consultation.

Source:

https://guides.sll.texas.gov/community-property