Understanding Investment Property Division in Texas
Investment properties, such as rental homes or apartment buildings, are acquired with the goal of generating income. In a divorce, dealing with these properties requires detailed and meticulous work. SCHEDULE YOUR $275 CONSULTATION
Both parties may need to determine the property's classification as community or separate property in court. Texas is a community property state, which means that property acquired during the marriage is typically considered jointly owned by both spouses.
When it comes to investment properties, the court generally has two options:
1. Award the property to one spouse, or
2. Order the property to be sold.
The court's decision can significantly impact an individual's life and financial stability.