Homestead protection laws in Texas are designed to help people in the event of a foreclosure, death of a loved one, or any change in economic circumstances that an individual may face. What is a homestead and who is entitled to a homestead protection? Let’s see.
States all over the United States have different laws for dividing property. Texas, happens to be what is called, a “Community Property State”. What does being a community property state mean? What are the differences between community and separate property? Courts use a simple method to differentiate the two types of property—they look at the exact time the property was acquired.
Separate property is property acquired by an individual before the marriage, or, during the marriage if acquired by gift, devise or descent, or agreement. Examples of separate property include: income earned or property owned by either spouse before the marriage; any property acquired by gift or inheritance; and damages for a personal injury claim for a physical injury sustained.
How does the court decide the classification of property upon its division? States differ on answering this question, however, Texas is a community property state that has adopted the inception of title rule.
Call (832) 410-8935 to speak to a family law attorney in Houston.
Division of property is a complicated issue under the circumstances of a divorce, not to mention when the property being divided is retirement benefits. So who gets retirement benefits in a divorce? Let’s see.
Article published by the Texas Divorce Attorneys (832) 410-8935.
Assuming there is no prenuptial agreement, here is a breakdown of how division may occur.
The keynote speaker for the Keller Williams Realty Northeast team meeting this morning was Attorney Jason Medley. Jason spoke on how separate property and community property can impact real estate agents working to get property to the closing table. Included in the discussion were strategies to assist real estate agents in bullet proofing the transaction … Read more