Legal Question in Family Law in Texas
Division of property
My spouse wants to have the house sold and I want to keep it. What part would I owe to her? Half of the appraissel value or half of the equity?
1 Answer from Attorneys
Re: Division of property
During a divorce, the parties can agree on almost any property settlement. If they cannot agree, the the judge is required to divide the community property in a way that is "just and right". (A judge cannot divest someone of his or her separate property). This does not necessarily mean 50-50. In dividing the property, the judge will look at the vaule of all of the property and award a total division that is just and right. That means that all of one property might go to the husband and all of a different one might go to the wife.
If the house were the only property, and if you wanted to split the estate 50-50, then you would owe her for one-half of the value (not necessarily the tax appraisal) and you would be obligated to pay all of the mortgage. There are documents that need to be exchanged to protect both parties. Do not try to do this without an attorney to advise you. Also, you cannot relieve her of her debt to the mortgage company.