When going through a divorce, there are a lot of concerns that run through your mind. One of the biggest concerns is what will happen to all the property that is owned between the two parties going through the divorce. Property division laws differ between states, and how they unfold can often depend on the two divorcees.
We are going to explain how property division works in the state of Texas during a divorce. If you live in the Dallas-Fort Worth Metroplex and are looking for an experienced divorce attorney, Davis, Ermis and Roberts can help you. We offer free divorce consultations and are ready to provide you the highest quality legal services during this difficult time.
An Amicable Agreement
Of course, in the event of a divorce, there is always the opportunity for the two parties to come to an amicable agreement about how their shared properties and debts will be divided. When this happens, it is usually by the means of both parties signing a Marital Settlement Agreement. Basically, the official agreement regarding which assets go to which person is decided and settled privately, and the courts simply sign off on it.
What is a “Community Property State”?
Only certain states in the U.S. are considered to be Community Property states. These states recognize that the money earned, property acquired and debts incurred between the legally recognized start date and cut-off date of the marriage are shared equally between the two parties. If a divorce were to occur, that property is to be split evenly between the two by court order. Texas is a Community Property state.
When No Agreement Can Be Made
Let’s say that the two parties in a divorce are unable to reach an amicable agreement as to how their property will be divided. When this happens, the courts must intervene. Because Texas is a Community Property state, the properties and debts of a couple will be split between them 50-50. There are of course exceptions, all coming down to different circumstances. Your appointed court and legal counsel will be able to explain to you exactly which belongings are considered shared property and which fall outside of that jurisdiction.
Davis, Ermis and Roberts: Helping DFW Residents Through the Divorce Process
There are many things that go into the divorce process, and the division of property is definitely a huge stressor for many. In Texas, when an agreement cannot be made privately, the courts will intervene by demanding a 50-50 split of property. Having an experienced, knowledgeable team on your side can help you throughout this process. Whether it is in the courtroom or through difficult decision-making, Davis, Ermis and Roberts are ready to help you through your divorce. Our phonelines are open 24/7, so give us a call at (817) 265-8832. You can also visit our website to learn more about the legal services offered by DER. With decades of legal experience under our belts, there is no better firm to trust in Dallas-Fort Worth.