One of the most disputable issues in a divorce is property division. Spouses have to prepare themselves to move forward, and this process includes establishing financial stability. To do so, each party has to protect properties and shares that are rightfully theirs. A good way to ensure this is by familiarizing oneself with the rules of property division.
Texas is a community property state
In Texas, any property acquired during the marriage forms part of the community property. The community property does not only include assets but also debts. When couples go through a divorce, the court evenly divides the community property between them.
However, it is important to note that even division does not always mean a 50/50 split in Texas. Similar to the principle of equitable division, courts will divide the community property in a way that is just and right.
Factors to determine what is just and right
Each divorce case is unique. What is just and right for some might not be fair for others. The court considers certain factors when determining how to split the community property. These factors include the following circumstances:
- Each party’s age and health
- Each party’s educational background
- Each party’s capacity to earn
- Each party’s opportunities for employment
- Custody arrangement
- Property acquisition
Although, certain circumstances push the court to award a disproportionate amount to one of the spouses. These circumstances include adultery, conviction, abandonment and fraud on the community.
Whether the parties decide to settle the property division on their own or have the court decide, it is important to understand the process to ensure that their rights are protected to maintain their lifestyle after the dissolution of the marriage.