What is considered marital property in Texas?
All possessions acquired by a couple during their marriage is considered marital property and subject to division after divorce in accordance to state law. Texas marital property laws recognize the legal concept of "community property," which means all property and income is divided equally upon death or divorce.
Is Texas a community debt State?
Texas is one of 10 community property states. Debt created during marriage in Texas is presumed to be community debt. Texas depends on a 4-step test to determine spousal liability for debt.
Is a car community property in Texas?
Texas is among a dwindling number of states that still recognize the law of community property. This means that anything you or your spouse buys – including houses, cars, investments and jewelry – will be considered community property in your divorce.
Is Texas A 50 50 state when it comes to divorce?
Since Texas is a "Community Property" state, all marital property will be divided in a 50-50 fashion according to the court unless agreed to otherwise by the divorcing spouses. This means that everything that is considered "up for grabs" in the divorce will be distributed equally to each spouse.