Defining Community Property
One important consideration in every divorce is: how are we going to divide up the assets? This question arises in nearly every divorce. In fact, even if you and your spouse are in a considerable amount of debt, and don't have any significant assets, knowing what community property is will also benefit you.
Under the Texas Family Code community property is defined as: "property, other than separate property, acquired by either spouse during their marriage. Texas Family Code Ann. Section 3.002. One other common definition used for community property in Texas is: property acquired during marriage other than by gift, devise or descent that is the product of the unique, joint endeavor undertaken by the spouses.
Cameron v. Cameron, 641 S.W.2d 210 (Tex. 1982).
There is also a community property presumption. What that means is, unless otherwise demonstrated, property in possession of the spouses is presumed to be community property.
What is the effect of property being Community property?
When property is community property it is able to be divided by the trial court. The trial court will make a determination as to what is a "just and right" division of the entire community estate and make an award of property based on this determination.
For the answers to specific property questions in your case please contact one of our Family Law attorneys.
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