Divorce may be difficult on both partners’ mental and financial health. It’s possible that you and your partner need some time apart in order to sort things out. It’s also possible that you’re going through a divorce. Divorces might take a long time, but you’re ready to move on with your life right now. You can’t afford to put off buying a new house and making a fresh start.
Separated couples in Texas face additional challenges when trying to purchase a home. Even if it’s feasible to buy a property while separated, it’s definitely not the best time to do so. An experienced family law attorney should be consulted before making any major purchases during or immediately following a divorce or separation, click here to learn more.
There is no option for a legal divorce in Texas.
After finalizing your divorce, you may be considering purchasing a home. You and your husband may feel that you are legally separated if you have been living in separate locations for some time. Or maybe you’re on the fence about splitting up and want to know how long you should wait before purchasing a home.
In truth, the concept of “legal separation” does not exist in the Lone Star State. Under Texas law, married couples cannot be legally considered separate entities. This implies that until a divorce is finalized, a married couple can continue to be considered legally married even though they have been apart for months or even years. This implies that from this point forward, anything you acquire will be considered marital property.
Possible Possession of Common Property Rights in Your New Home
Property in Texas is held by joint owners. All property obtained during the marriage is considered community property and is owned equally by both spouses. It’s likely that everything you earn or own, including a pension and a house, will be considered shared by you and your spouse. Let’s say you’re divorced but still want to buy a house together. If you and your spouse bought the house with money from a joint account or other communal property, you both legally own the house. If you get divorced, your spouse may be entitled to half of this property.
The presumption of communal property does not always apply. The assets that you accumulated before getting married are yours to keep. You and your spouse may be able to utilize premarital funds to finance the property purchase.
