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Key points about negotiating property division in a Texas divorce

| Dec 24, 2020 | Property Division |

When a Texas couple decides to get a divorce, there is an automatic perception that there will be endless dispute over a litany of issues. This is unfortunately true in many cases. But in some situations, the parties can negotiate a settlement without needing court intervention other than to look at the agreement and approve. Property division can be a source of discord. If the parties can meet in the middle, it may save time and money and help them to remain on good terms. This is especially important if there are children and they must maintain some form of workable relationship. Still, it is important to understand the law for property division and how an agreement impacts the divorce proceeding.

How the court views a property division agreement

The court promotes a reasonable agreement between the parties in a divorce. With a settlement of property and liabilities, it can ease the process. A fundamental factor in a negotiated agreement is if it is considered “just and right.” In general, the court is seeking a fair outcome for both sides. Once that hurdle is complete, the court can approve of the agreement or use a part of it to come to a decision on its own. If the court finds that the agreement is not just and right, it can ask the parties to renegotiate until it is acceptable or will hear the case to decide.

It is wise to remember that Texas is a community property state. Any property that was acquired while the couple was married will be viewed as belonging to both. If there are items that one side wants to retain such as a home or a motor vehicle, then it may be preferable to negotiate instead of having the court decide. Perhaps a trade of one property for another would be acceptable. Some people own a business and this too could be concerning. A buyout of the other spouse may be an effective strategy to avoid extensive litigation.

Being legally protected is critical with property division in a divorce

Couples who are on good terms will have a better chance of cobbling together a negotiated agreement that they find acceptable and the court will approve. Regardless of the relationship, it is imperative to have legal assistance with any family law matter. The negotiated agreement should be assessed along with an analysis of the property the couple shares. This can ensure that the settlement is fair. If the case must go to court, it becomes even more vital to have legal help. A firm that is experienced with divorce, property division and other areas of family law can be integral to a successful outcome.