Divorce: What types of Property do we have?

Divorce

Texas is a “community property” state which can make a divorce complicated when determining whether or not property owned is community property. In most cases, the community property consists of the marital home and retirement accounts. Please see definitions below:

Community Property: Property that is received during the marriage.

Separate Property: Property that is obtained before the marriage. It can also be property that is inherited by one of the spouses or gifted to one of the spouses.

Mixed Property: Property that is not plainly community or separate property.

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