Jointly Titled Personal Property

Property Ownership Under Texas Law

Texas is among the few states that consider property acquired by either spouse during a marriage as community property, subject to certain exceptions. Separate property, assets obtained through descent, devise, or gift, or those owned by either spouse before marriage are typically considered separate property. A party disputing that an asset is community property must provide clear and convincing evidence to prove its separate property nature.

In a divorce, the Texas Family Code treats both real and personal property equally, meaning that assets such as real estate, cars, art, and even pets may be considered community property. If an asset is in the name of both spouses, it is generally considered community property, and it can be challenging for either spouse to establish otherwise.

Dealing with Jointly Titled Property in a Divorce

According to Texas law, all community property is subject to division in a way that the judge deems just and fair. It does not have to be divided equally. In making a decision, the judge will typically consider factors such as each spouse's separate assets and income, earning potential, education, and the length of the marriage.

With regard to personal property, such as furniture, artwork, and jewelry, it cannot be split between two people. Therefore, in situations where a couple jointly owns an asset, a judge may award the asset to one spouse. In some cases, the judge may deem it appropriate to grant the other spouse a greater share of other property to compensate for the loss of the jointly owned asset's value. Alternatively, a judge may choose to order the sale of the property and divide the proceeds between the parties. Whether jointly titled personal property is divided or awarded to one spouse, it is crucial that it is valued accurately. Thus, it is advisable to obtain an independent appraisal to determine the value of a jointly titled asset.

Sometimes, jointly titled personal property may come with debt, such as a car payment. Since jointly owned property is usually considered community property, the debt associated with it will most likely be deemed community debt. As a result, the judge will need to take into account the amount of debt owed on the asset when determining its value and how it should be divided

Speak with an Experienced Divorce Attorney

Dividing assets in a divorce can be a complex and time-consuming task, but it is crucial for individuals seeking to end their marriage to be aware of their rights in terms of property distribution. If you are considering divorce, the attorneys at Wilson Whitaker Rynell can provide you with essential information regarding your choices and support you in achieving a just and expedient outcome. Our firm represents clients in divorce cases in various Texas cities, including Dallas, Austin, Houston, Fort Worth, and all cities within Dallas County, Tarrant County, Collin County, and Denton County.