Among the most valuable family assets that married couples have is the family home. In a perfect world, all assets, including the family home, would be equally divided or distributed between spouses when they decide to get a divorce. Apart from the financial aspects of the family house, leaving or selling it could be very emotional, particularly when kids are involved.
To figure out which spouse gets to keep the family house in a divorce, you need to learn about how property is divided in a Texas divorce. This is a complex matter, and you should always have help from a Sugar Land divorce lawyer.
Division of Property in Texas
Being a community property state, all property and income that either spouse acquired throughout their marriage is considered community property in Texas, meaning that it belongs equally to both spouses. This also means that courts will distribute the community property in a just and fair manner in a divorce.
Separate property, on the other hand, is property that one spouse already owned before getting married or received while they were married as an inheritance or gift. This can likewise include property that you bought with money that meets the definition of separate property. For example, if you inherited money or were gifted money that you used for buying the family home, that house would be considered separate property.
Which Spouse Gets to Keep The Family Home?
Based on the above example, if the family house is separate property, the spouse that bought it gets to keep it. But the spouse that claims to have bought the house must show proof that it’s clearly separate property.
But if the house is real property, it will have to be divided fairly in a divorce. However, because it’s not possible to literally divide a house, the divorcing couple should determine the property’s value and decide how to distribute any debt or equity on it.
Depending on what the couple decides to do, the following are common examples of what happens to the family house in a Texas divorce:
- If one of the spouses wants to keep living in the house, the other spouse must agree to it, and the spouse who keeps the house will usually be responsible for any debt related to it.
- The spouses might likewise agree that one of them could stay in the house and give half of the equity to the other spouse.
- The couple could likewise agree that the spouse who wants to stay in the house gives some of the assets to the other spouse to offset the property’s value they were supposed to get.
- If the couple can’t agree on anything, the judge might award the home to one spouse or order them to sell it and share the profits.
Seek Legal Help from an Experienced Sugar Land Divorce Lawyer Today
For more information on dividing property during a Texas divorce, reach out to the law office of Jamie Jordan, PLLC, today. Please call 832-430-6200 or contact us online to arrange your appointment with our skilled Sugar Land divorce lawyer.