Property Division in Dallas Divorces: Differentiating Marital and Separate Assets
Dividing property in a Texas divorce can be a complex process. The state follows community property laws, meaning most assets acquired during the marriage are considered marital property and are subject to division. However, certain assets may be deemed separate property, belonging solely to one spouse, such as those acquired before the marriage, inheritances, or gifts. Marital Property Marital property includes earnings, real estate, and investments acquired during the marriage. This property is divided equitably between spouses, but not necessarily equally, depending on various factors like the length of the marriage and each spouse’s contribution. Separate Property Separate property is anything owned before the marriage or received as a gift or inheritance by one spouse alone. This property is not subject to division and remains with the spouse who owns it. However, it is crucial to have clear documentation to prove the separate nature of these assets. Commingling and Tracing In som...