During property division in divorce proceedings, you may wonder what will happen to the family house since your name is not on the deed. However, the name on the deed is not necessarily important. What matters is whether the house is considered community or separate property.
Here is what you need to know about these two distinct classes of assets.
Community vs separate property explained
Separate property consists of the assets each spouse owned before the marriage, such as a gift from a friend. Everyone keeps their separate property in a divorce. If your spouse bought the home before the marriage or acquired it using separate property money, it will not be up for division since it solely belongs to them.
On the other hand, community property includes all assets and earnings acquired within the marriage. In this context, a house purchased during the marriage or using community property funds is not separate property, regardless of the name on the title.
Who will end up with the house?
Under Texas property division laws, spouses have a similar share in all marital assets, the house included. However, division is not on a strictly equal basis. The court will determine what each party will end up with based on the interests of justice and fairness.
Since the house cannot be divided in two, you will need to determine its value and agree with your spouse on how to share any equity or debt. Alternatively, you can both agree to sell the house and share the proceeds.
Looking out for your interests in a Texas divorce
Divorce can be emotionally draining, and it’s easy to drop the ball somewhere along the way. As a result, you may lose out during what is perhaps the most crucial part of the divorce.
Therefore, having the proper legal representation during the entire process can help safeguard your rights and ensure you get your deserving share of the marital estate.