Legal Question in Family Law in Texas
How Many Years of Income Taxes are Used ?
How many years of income are considered when determining the division of community property in Texas. Divorce was filed in Bexar county, March of 2001.
I was supported for 15 years of marriage, but now my husband is on SSI & on fixed income. The community property consists of a house with 50K of equity(I have assumed mortgage payments) and 25K of debt, which he is currently paying. I would like to keep the house & he keep the debt. But now that his income is substantially reduced I am concerned that I might be made to incur some of the debt or forced to sell the house to split the equity.
1 Answer from Attorneys
Re: How Many Years of Income Taxes are Used ?
This is probably something you need to come to an agreement on. If you can, you can agree on what you want, the house and him the debt. Even after you are divorced you are still legally responsible for all debt incurred while you are married. One thing that you can do to try to remedy that problem is to send each debt company, whether it be credit cards, loans etc., is to send them a certified copy of the divorce decree showing that he alone is obligated for the debt. As far as years of income, I'm not really sure I understand your question. You count from the date that you were married and all of it is community property after marriage. There are formulas that are used to determine the amount of equity that you have put in the house but they are too complicated to explain here. The easiest thing to do would be to come to an agreement.