When spouses prepare to divorce, they may try to work out solutions for their shared assets. If they can’t settle matters on their own, then they can ask a judge to divide their marital property and debts.
A judge must follow the terms outlined in the Texas community property statute to appropriately divide marital assets. People tend to focus primarily on their most valuable resources as they begin strategizing for divorce litigation.
Can people anticipate receiving half of the accrued equity in their marital homes after a Texas divorce?
Litigated property division is unpredictable
Although many people believe that community property division is synonymous with an even split, judges have the authority to divide the marital estate based on what they believe is fair. The process begins with a presumption that an even split is appropriate and fair, but both spouses can present evidence showing that a different overall division of assets and debts is the best solution.
A judge might decide to award each spouse half of the accumulated equity in the home. They might also grant one spouse all of the equity while awarding the other assets worth a comparable amount. One spouse might retain the house and refinance. The spouses might also sell the home to divide equity by liquidating it. It is possible to factor in accumulated equity without necessarily dividing it directly.
Discussing one’s marital estate and personal priorities with a skilled legal team can help people prepare for property division proceedings. Spouses who understand the laws that govern Texas divorces are in a position to pursue the best possible property division terms.