Separate Property

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KatiesDad

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We were married when my spouse put down $25,000 as the downpayment on our house. (San Antonio, Texas) It was from her separate property account. Now, we are going to sell the house and divide the equity, but she wants her 25K back first, and them split the rest. But Texas is community property state and the house is in both names, so what was once separate property is now community property, isnt it? She could not have purchase the house on her own - she did not have the income or the credit. We should have about
135K in equity built up.
 
Katie's Dad said:
We were married when my spouse put down $25,000 as the downpayment on our house. (San Antonio, Texas) It was from her separate property account. Now, we are going to sell the house and divide the equity, but she wants her 25K back first, and them split the rest. But Texas is community property state and the house is in both names, so what was once separate property is now community property, isnt it? She could not have purchase the house on her own - she did not have the income or the credit. We should have about
135K in equity built up.
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It is true that the State of Texas is a community property state...basically, any property that was acquired from the time of the marriage until the date of divorce filing (or marital cut-off date) will be considered community property...and this will allow any assets to be divided evenly by the court, if both parties cannot come to a mutual agreement...an experienced Texas divorce lawyer can best advise you on what your options are..
 
Every state is different, so your best bet would be to definitely consult with an attorney.
 
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