When a Texas couple has been married for any length of time, it is likely they have acquired assets and debts together. If a marriage is dissolved, those assets and debts must be divided in a manner that is fair and reasonable to both parties.
For nearly 50 years, the Austin property division lawyers at Minton, Burton, Bassett & Collins, P.C., have represented Texas parties in the division of their marital property, from handling simple estates to the more complex ones involving stocks, pensions, real estate and businesses. We will work diligently and aggressively to protect your rights and interests in a divorce.
Texas Property Division
Texas is a “community property” state. Under state law, only community property can be distributed when a marriage ends. Separate property is left untouched.
Texas law defines separate property as any property acquired before marriage and items such as gifts, inheritances and personal injury awards that are obtained during the marriage. Community property, on the other hand, is any property that was acquired during the marriage, and it can include any separate property that became “commingled” with community property during the marriage.
The parties often have premarital (or prenuptial) agreements that spell out how they will divide their property in a divorce. It’s also common to reach an agreement during mediation, which avoids the time and expense of going to court.
If no agreement is reached, however, the court’s role will be to identify the community property, valuate it and distribute it in a way that is “just and fair” to the parties. This does not necessarily mean the property will be divided equally. An unequal division may result from the court’s consideration of several different factors, including the parties’ relative earnings and relative fault in the marriage’s dissolution, such as adultery, cruel treatment or abandonment.
In some cases, an attorney may need to file a temporary restraining order while a property division agreement or court order is pending in order to stop the other spouse from depleting marital assets or running up marital debt.
Keep in mind that, unlike spousal support, a property division order is not subject to modification.
Contact Us Today
The experienced Austin family lawyers at Minton, Burton, Bassett & Collins, P.C., have represented clients in community property disputes throughout the state of Texas, including: Travis County (Creedmoor, Elroy, Manor, Pflugerville); Williamson County (Cedar Park, Georgetown, Liberty Hill, Florence, Leander, Round Rock, Taylor); Hays County (Buda, Dripping Springs, Kyle, San Marcos, Wimberley); Bastrop County (Bastrop, Clearview, Elgin, Rockne, Smithville); Caldwell County (Lockhart, Luling); Burnet County (Bertram, Burnet, Marble Falls); and Comal County (Bulverde, Canyon Lake, Gruene, New Braunfels, Sattler, Startzville). To discuss your property division case, call us today at (512) 476-4873 or reach us through email or our convenient online form. We will protect your rights and interests.