| Presumption Of Community Property At Dissolution |
How is property classified in Texas at the time of dissolution of the marriage?
All property on hand at the dissolution of marriage is presumed to be community property. Long v. Long, 234 S.W.3d 34, 37 (Tex.App.--El Paso 2007, pet. denied); Tex.Fam.Code Ann. § 3.003(a) (Vernon 2006).
Althoug, this is a rebuttable presumption, requiring a spouse claiming assets as separate property to establish their separate character by clear and convincing evidence. Long, 234 S.W.3d at 37; Tex.Fam.Code Ann. § 3.003(b).
Separate Property.
Property owned before marriage, or acquired during marriage by gift, devise, or descent, is separate property. Long, 234 S.W.3d at 37; Tex.Fam.Code Ann. § 3.002. An example of this would be if the parent of one spouse were to give a cash lump sum gift to that spouse.
Where an asset is purchased during marriage with monies traceable to a spouse's separate estate, the asset may appropriately be characterized as separate property. Long, 234 S.W.3d at 37. If said funds were used in the purchase of an asset or property for the marital estate, then said spouse would also have a claim for reimbursement of his or her separate property, so long as the funds utilized for the marital estate could be traced back to the spouse' separate property. |
Posted By Elias Lorenzana on November 22, 2009 11:27 pm | Permalink  |