What Is Community Property in Texas?

 Posted on March 23,2024 in Property Division

Different states follow different models that guide them on how assets and property are divided in a divorce. Texas follows the community property model. When referring to divorce, community property means all assets and property that a married couple acquired during their marriage, with some exceptions. This includes investments, real estate, income, and more. This article will explain community property in detail. If you are considering divorce and wondering what sort of property division arrangement you can expect, speak with a knowledgeable Palo Pinto, TX divorce lawyer to find out more.

What Are the Implications of Community Property?

In the state of Texas, no matter who earned what or whose name is registered on any title, both spouses equally own community property. The marriage is considered an equal partnership and if one spouse worked for pay throughout their marriage and the other contributed more to their household and the upbringing of their children, they are both recognized as equals by the law. Therefore, when a couple in Texas gets a divorce, their property is generally divided equally between the two. An exception would be if the couple had signed a prenuptial or postnuptial agreement that stipulated otherwise.

In Texas, things that are considered community property include:

• Any real estate or other property that was bought by either spouse while they were married
• Any cars, boats, or other vehicles bought by either spouse while they were married
• Retirement funds and benefits acquired while the couple was married
• Income earned by either spouse while they were married

What Are the Exceptions to Community Property?

In general, any property owned by either spouse before they got married does not need to be included in the marital estate because it is considered separate property. However, there are some exceptions, and your attorney will be able to make that determination. In most cases, if either spouse received any inheritances or gifts during the marriage, those are considered their sole property as well and will not need to be divided equally in the event of a divorce.

Another point to keep in mind is that Texas law aims to divide property in a “just and right” manner, and therefore, the spouses’ age and health, their respective earning capacity and needs, the duration of the marriage, child custody arrangements, and if someone was at fault for ending the marriage are all factors that the courts will take into account in deciding how property will be divided.

Contact a Texas Divorce Attorney

If you are considering divorce and questioning how your assets will be divided, speak with a dedicated Parker County, TX divorce lawyer. At The Law Offices of Kary L. Key, we understand how stressful and confusing a time this might be for you. Call 817-599-6969 to speak with our experienced attorney and begin working on a plan to protect your interests and your financial future.