Texas is a state of “community property”. Any property which was received by either spouse during the marriage would be considered community property. This community property would be divided equally; unless the couple decides otherwise or the court determines this would be unjust. When one spouse acquires property while living outside of Texas, it may be divided differently. The only factors considered when dividing property are the rights of each party and any children.
Each spouse’s individual property is retained by the spouse who owns it. This personal property consists of:
- Property that one spouse or another owned before the marriage;
- Property which was acquired by one individual during the marriage by gift or inheritance;
- Recovery for personal injuries which occurred during the marriage.
It is important to note that any property possessed by the couple or by either spouse is determined to be community property unless it can be determined otherwise. In some cases, a court is the best forum for resolving the ownership of certain property (such as retirement accounts, life insurance, and other difficult-to-divide assets.) However, for those looking for a quick, affordable, divorce, coming to an amicable agreement may be best. Once this has been determined, it can be noted in the divorce papers.