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Is There Separation Of Assets In Texas?

Posted by admin on December 8, 2018
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Texas is a state of “community property.” In other words, all property owned by persons married in the dissolution of marriage, whether by death or divorce, it is presumed that the property belongs to both the husband and the wife. In the same way, the debts contracted during the marriage are presumed to be from the community. This means that the debts are presumed to be contracted by the husband and wife. Like the community of property, the debt of the community should also be divided into a divorce. The presumption of community property can only be overcome by the clear and convincing evidence that a certain property is independent, rather than the community of property. This is usually done by plotting and clearly identifying the property as separate property at the “beginning of the title, “Or the time when the property was first acquired. Documentation that clearly shows that ownership is separate is almost always necessary if the parties do not agree on whether an asset is separate or community. Consequently, the testimony that the property is independent is probably insufficient to demonstrate the separate nature of an asset without other documentary support.

SEPARATE PROPERTY
In general terms, goods acquired before marriage and property acquired during the marriage through donation or inheritance, or with the funds that were proper of separation of property, is and remains separate property. A recovery from personal injury by a spouse for a sustained loss during the marriage is also separate property. However, it is worth noting that the recovery of loss of earning capacity is not independent property. Finally, spouses can enter into a written signed agreement known as premarital or marital property contract, discussed in more detail below, documenting separate property rights or can convert the community property into separate property.

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