Not everyone wants to go through a divorce because there are many challenges along the way. One of the challenges is related to property ownership during a divorce. We understand the challenges that come with selling a house during a divorce in Texas. This blog will outline the essential information you need to know about selling your home during a divorce in Texas.
What Is Real Property?
Real property refers to buildings on the land. The person who owns the land has all the rights to it, including the right to live there, sell it, rent it out, or enjoy it in any way.
Real property has many uses, such as living in, running a business, farming, industry, or particular purposes. To know if you can sell your home, you need to understand what rights you have or don’t have for that property.
Separate Property VS. Community Property
Before you divide real property in your divorce, you must determine if your property is separate or community property.
Separate property is any property you or your spouse owned before the marriage. Also, the property you or your spouse have received as a gift or inheritance is classified as separate property.
On the other hand, community property is any property that you bought while married with the income you earned during the marriage.
Frequently Asked Questions
What If You Received Your Real Property As A Gift Or Inheritance?
Any property that the spouse receive as a gift or inheritance during the marrige is separate property. Each spouse would own half of the property, meaning that they’re the co-owners.
How Is Real Property Divided During A Divorce?
If the real property is a separate property, the court cannot give it to the other spouse. However, if the spouse claims it to be separate property, they will have to provide all necessary documentation for the property.
Real property, which is community property, will need to be divided during the divorce. Because real property cannot be split in half, the spouses will have to find its market value and divide the money accordingly.
How Do You Sell A House During A Divorce In Texas?
If the judge decides or the couple agrees to sell the house, both of them need to sign the paperwork to complete the sale. The court order should clearly describe the house and how long they have to sell it.
Sell Your Home In Texas With Settlement House Buyers
Do you want to sell your house without any challenges? Here at Settlement House Buyers, we will buy your home fast! You don’t have to worry about any expensive touch-ups. We will buy your house in any condition and pay with cash. Call us now or submit your property details to get started.