Family law can bring up a number of stressors for couples who are in various situations. From same-sex marriages to high-asset divorce and those who have many children together, every case is different. For some, the way in which marital property is split up can be particularly challenging. Some people lose sleep over concerns about how the property will be divided, while others struggle with a court’s decision after the fact. If you are unsure of how your property may be split up, or have questions related to the division of property during a divorce, it may be helpful to go over various facets of this issue. For example, you may want to review various examples of separate property.
According to the Texas Constitution and Statutes site, there are various instances where property may be considered separate property. For example, property that was claimed or owned by one party prior to the marriage is considered separate property. Moreover, if one person received property as through descent or as a gift, it is considered separate property, even if it was received during the marriage. Separate property, unlike community property, is not subject to division when a couple splits up.
To some people, this may seem like a basic question, but it is important that you do not overlook any aspect of the property division process while working through your divorce. Property division can have a major financial impact on each party and people may find it easier to work through the process when they have a better idea of what to expect.