Characterization Of Assets In Divorce
Divorce Attorney • Marital Assets
In light of Texas statutes, an essential first step in a divorce in Harris County, Fort Bend County or anywhere in the state is a characterization of property owned by either or both of the spouses as separate property or community property.
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Texas divorce laws are based on Spanish laws that considered property owned by husbands and wives to be community property. Separate property held by husband or wife must also be taken into account in a Texas divorce.
Texas family code § 3.001, entitled "Separate Property," clarifies separate property as follows:
A spouse's separate property consists of:
(1) the property owned or claimed by the spouse before marriage;
(2) the property acquired by the spouse during marriage by gift, devise or descent.
(3) the recovery for personal injuries sustained by the spouse during marriage, except any recovery for loss of earning capacity during marriage.
The definition of community property as found in Texas family code § 3.002, defines lays out the meaning of community property as follows:
Community property consists of the property, other than separate property, acquired by either spouse during marriage.
Sugar Land family law attorney Richard Bell is available to explain Texas community property division law and how it might apply to your divorce. Contact the law firm to schedule a consultation regarding characterization of marital assets with Attorney Richard T. Bell.
Written by the Office of Richard T. Bell