Austin Property Division Attorney
Helping Clients Protect Their Assets in a Texas Divorce
Property division is often the most contentious and impactful part of the Texas divorce process. The outcome of your property division dispute could significantly affect your post-divorce financial stability, so taking the property division process seriously is essential.
Have questions about property division in Texas? Contact our Austin property division lawyer today.
How Is Property Divided in a Divorce in Texas?
Texas is a community property state, meaning the court equally divides marital assets and liabilities between the parties.
What Is Considered Marital Property in Texas?
Marital property is anything that both parties have contributed to. For example, let's say you buy a house before you get married, and only your name is on the deed. Now, suppose that during your marriage, your partner pays for an addition on the house. Assuming the addition contributes to the property's value, the house would become marital property (unless you have a prenup or similar legal contract stating otherwise).
The court may ask you to sell the marital house and give you the majority of the profits since you bought the house, but give your soon-to-be-ex a cut since they paid for the addition. If you want to keep the marital home, the court may ask you to "buy out" your spouse by paying them however much the addition cost.
The only assets or liabilities exempt from property division is separate property. Separate property is something you (and only you) explicitly own, like gifts meant only for you, something you bought for yourself before marriage, personal debt, etc.
Contact Our Austin Property Division Lawyers To Get Started on Your Case Today
Property division can quickly get complicated if the parties possess a significant amount of marital property or disagree on how to split it. Our property division attorney in Austin will work with financial professionals like certified public accountants (CPAs) specializing in asset valuation to help you identify the best path forward in your property division.
Contact us online or call us at (512) 991-0576 to speak with one of our property division lawyers in Austin.