In the event there are not child custody issues involved when a Texas couple goes through a divorce, then the property division could end up as the most challenging part of the process. While property belonging to one spouse before the marriage along with gifts and inheritances are usually believed to be separate, everything else has to be divided between both parties. The couple’s debt must be divided too, as well as the other assets.

For many Texas couples, a premarital agreement can illuminate how all debts will be split during a divorce. In the even that no such agreement exists, the Texas divorcing couple might have to decide how to divide their credit card debt or mortgage. Charges made on to the joint account(s), independent of who made a purchase, are generally the responsibility of both parties, with any credit card debt accumulated on an account that is under the name of both spouses will likely be divided. There is an instance however, where one spouse may not be responsible if the other has credit card debt from a separate account.

The divorcing couple may have options when dealing with their mortgage post-divorce, however the home is in most cases assigned to one of the parties. There are some cases where one party might buy out the equity belonging to the other spouse. Of course, selling the home is also an option when dissolving a Texas marriage.

Because Texas is a community property state, meaning many debts and assets acquired during the marriage are deemed to be the property of both parties equally; there could be multiple options for figuring out a fair settlement that could receive court approval. In the even no prenuptial-agreement exists, a post-marital agreement could instead divide a couple’s debts and assets, and a Texas family law attorney can often be of assistance to one of the parties in attempting to negotiate one.