If you have recently filed for divorce in Texas, you may feel overwhelmed with the prospect of separating the marital property you have accumulated throughout your years of marriage. It can be difficult to part with property and possessions that you have held onto for so long. Yet, negotiating community property is part of the divorce process. In Texas, all community or marital property is divided equally in half, with each party getting 50%. However, not all property is considered community. There may be some items that can remain in your sole possession even after the divorce is finalized.
Separate property is not divided in a divorce and stays with the original owner. This includes property that you may have owned prior to getting married. For example, if you owned property before getting married and your name is the only name on the title to that property, it is considered separate and not eligible for division. Yet, if at any time during the marriage you amended the title to include your spouse’s name, the property then becomes marital property.
In addition to property, any gifts given to you by a third-party before, during or after the marriage is separate property. Inheritance money and compensation won from a personal injury case is also separate property and can stay with you after the divorce. Any money that is deposited into a joint banking account shared with your spouse’s name, however, becomes marital. It is important to keep these items separate and not combine them with marital funds or property.
This information is intended to educate and should not be taken as legal advice.
