Characterizing property in a divorce settlement–community versus separate property
Division of property in a divorce settlement under Texas Family Law can be a complex process. The first issue that must be clarified is the characterization of property that is owned by you and your spouse—what is “community property” and what is “separate property”? These are legal terms of art, which means they have specific meaning under Texas Family Law. Almost everybody has an opinion about what is community property and what is separate property. However, under Texas Family Law, these definitions are very specific, and will frequently differ the preconceived ideas you have as to their meaning. The law on characterization of property is extensive and this is not intended to cover all aspects of this complex area of the law. Simple definitions of community property and separate property Community Property…