Every married couple’s main goal is to purchase a home to raise their children and build their family. The family home is often the biggest asset for many married couples. So, when the couple divorces, the equity in that home must be divided among the spouses.
Texas recognizes both community property and separate property. This means that if the house was bought by one party before the marriage, then the home’s equity may not be divided.
What If You Bought The House Before Marriage?
Can My Wife Take My House If I Bought It Before Marriage In Texas?
The property you buy before marriage is separate property which means you remain the sole owner even after divorce. That means that during a divorce that property is not subject to just and right division. However, you must produce evidence that shows that that property is separate property.
There are scenarios where a couple decides to buy a home together before they are married but only one of them has good credit. So, the one with good credit goes ahead and buys the home while the one with bad credit provides the money for the down payment. In this situation, the party that bought the house owns the house because their name is on the title.
If they decide to divorce, the party whose name is on the title owns the home as separate property. The party that provided the down payment will have no ownership stake but may get reimbursed.
Buying A House With Your Fiancé Before Marriage
How Does Separate Property Become Marital Property In Texas?
Buying a house with your fiancé before marriage is not advisable. If you have your mind set on buying a house with your finances, consult an attorney to know how the property will be divided in case of a divorce. It is not advisable to purchase a house in this manner because that means the house will be separate property owned by both of you.
The divorce court isn’t able to divide it, you will have to go to a civil district court. This is because a divorce court cannot issue orders on matters involving property agreements. You can talk to a civil law attorney to guide you on how to divide that property.
Before you get married, you and your fiancé can take steps to ensure that you avoid difficulties during divorce when you find yourself having to divide separate property that both of you own. The law allows you to create a partnership agreement that ensures a 50/50 split of the property in case you get a divorce.
That means that after divorce a realtor will sell the house and you and your spouse will split the profit equally.
What To Do If You Bought A House Before Marriage?
My Husband Had A House Before We Got Married In Texas
People who purchased a home before marriage and are now facing divorce may not know what to do when going through a divorce. Talk to a divorce attorney to determine what interest you will retain in the house because real estate is one of the main reasons for messy divorce battles.