PROPERTY DIVISION

Property DivisionThe court shall order a division of the properties of the parties in a manner that the court deems just and right, having due regard for the rights of each party and any children of the marriage.  To learn more about your options call one of our San Antonio Divorce Lawyers at 210-338-8225.  From our office at 3107 Broadway suite 100 we offer free consultations 7 days  a week.

Property Division – 210-338-8225

PROPERTY DISTRIBUTION :

Texas is a community property state. The court shall order a division of the estate of the parties in a manner that the court deems just and right, having due regard for the rights of each party and any children of the marriage. Property that would be considered marital property (whether acquired in the state or not) is subject to division. Property that would be considered separate property (whether acquired in the state or not) is not subject to division.

The court shall determine the rights of both spouses in a pension, retirement plan, annuity, individual retirement account, employee stock option plan, stock option, or other form of savings, bonus, profit-sharing, or other employer plan or financial plan of an employee or a participant, regardless of whether the person is self-employed, in the nature of compensation or savings. In a divorce decree, the court shall specifically divide or award the rights of each spouse in an insurance policy.

What’s the general rule of property division (equitable distribution, community property, or legal title)? We live in a community property state. However, the rules about marital property are different here than those of other community property states.

The court can divide the community property in a “just and right” fashion – that means whatever the judge thinks is fair under the circumstances.

A 50-50 division of the marital property is not required by State law. It is common to have an unequal division of the property in cases involving children. A multitude of factors can justify a lopsided division, including: a) disparity in the earning capacities of the parties, b) differences in educational backgrounds, c) primary responsibility for raising the children, d) differences in age and/or health of the parties, e) needs of the spouse and children.

Published by Arthur Augustine on 2013-08-13