Division of Property
Division of Property Lawyers
Though a divorce can be a difficult experience for your family, there are ways to mitigate some of the stress and expense. One of the first questions many couples have is about the division of assets, property, and debts. This is one sticky situation for many couples and it can be difficult to arrive at mutually agreeable choices.
Community property is owned equally by both parties, but separate property is owned by one spouse who normally came into the marriage with the asset. Just as with assets, debts are divided two ways: community property or equitable distribution.
When a couple cannot agree on how to divide assets, the Texas courts can step in and make those choices for you. Texas is a “community property” state, meaning that this is the method used to divide assets during a divorce. In Texas, the property of each spouse is either classified as community property or distinct property.
Property that is and was owned by a spouse before the marriage, whether a car, painting, home, investments, or property, will not be divided equally during the divorce.
In many states, equitable distribution is used to divide assets. With this method, all assets and earnings accumulated during a marriage are divided equitably between the parties involved. The courts strive to treat each spouse fairly, so one spouse may receive more than the other. In this case, “equitable” does not mean equal; it means “fair”.
However the court system decides to divide assets, it is illegal to try and hide assets from your spouse in order to avoid splitting them. Though in the past it was much easier to get away with this, today’s forensics experts will have a much easier time of sifting through all the paperwork to find any irregularities.
Couples find it much simpler to agree on an equitable division of property. Once the courts are involved, couples lose control of how the assets are divided. For those couples who are finding it difficult to agree, your Texas divorce lawyer can help you. Simply make an appointment for you and your spouse and allow your attorney to advise you and mediate the settlement.
The attorneys at Zinda Law Group are skilled at divorce mediation and are available to help couples decide all the important issues so that a court doesn’t have to get involved. This is the least expensive and least stressful method and most couples can part and remain friends when things are settled in a mature manner.
Keeping the House
In most cases, the parent who has the responsibility of caring for the children will be awarded the house. The exception is a situation where the home belonged to one of the spouses before the marriage. The home remains the property of that spouse, and they have full legal right to the home. When a home is jointly owned, and there are no children involved, then the question becomes more difficult to answer.
Neither party has the legal right to demand that the other spouse leave. You can request that they move out, but neither of you actually has legal jurisdiction over the home. If a couple is having a tough time with this issue, divorce mediation can help. Otherwise, this is a matter for the courts to decide during the legal proceedings.
The attorneys at Zinda Law Group have some excellent options to offer Texas couples going through a divorce. Our team not only has the experience, but they are passionate about helping families successfully get through the divorce process. They understand that it can be a long, drawn-out procedure and will work with you to ensure that things go as smoothly as possible.
Why not call and set up your one-on-one counseling with one of our Texas lawyers to discuss your case? We can answer some of your questions and help you make sound decisions as you move forward.