If you find yourself dividing assets and moving into the next chapter of your life, please let one of RE/MAX North-San Antonio’s REALTOR®s help you with this transition. Our agents understand the details and situations that evolve with certain circumstances. Whether you are listing property, aquiring a new residence, or liquidating investments, our agents will be with you every step of the way.
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Property acquired by either spouse outside of Texas shall be deemed community property if the property would have been considered community property if it had been acquired in Texas.
Property that was acquired by a spouse while living in another state that would have been the spouse’s separate property if he/she were living in Texas; and property acquired by a spouse in exchange for real or personal property that would have been the spouse’s separate property if he/she were living in Texas is considered separate property of the spouse and shall be awarded to him/her.
In a decree of divorce or annulment, in addition to all other community property, the court shall determine the rights of both spouses in the disposition of the following property.
- Pensions, retirement plans, annuities, IRA’s, employee stock option plans, stock options, or other forms of savings, bonus, profit-sharing, or other employer plan or financial plan of an employee or a participant;
- Insurance policies; and
- Claims for reimbursement.
The court may consider whether a specific asset will be subject to taxation and if so, when the tax will be required to be paid when ordering the division of the marital estate.