What is Community Property? Tips to Sell Your House Fast in Divorce

http://www.bigstatehomebuyers.com/?p=1586 – Today we are talking about divorce. If you are getting a divorce in the state of Texas, the first thing you need to do is decide how to divide your property and assets.

In Texas, we have something called community property. Anything acquired during marriage is considered community property and belongs to both people equally. 401k, 401k growth stocks bonds rental property or furniture – anything that can be acquired during marriage. The best thing you can do is work with your spouse to determine who will get what. Even though both people have a claim to it, it doesn’t necessarily mean everything will be divided equally.

Separate property is anything acquired before marriage, but can include the following:

1. Inherited property – If one spouse inherits a property solely in their name, it is considered separate property by the state of Texas.

2. Gifted item or property

3. Personal injury claims

4. Anything that you buy and deed as sole and separate property of – one person or the other (both parties must sign the deed when it is purchased.)

For more information regarding how to sell your house quickly in a divorce, check out our other posts on the topic, or call us at 713-909-4119 for a no-obligation quote on your Houston house. http://www.bigstatehomebuyers.com/category/divorce/

For more information, visit our website at BigStateHomeBuyers.com

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