Some of the biggest problems faced by Texas divorcing couples are the financial aspects of a divorce. Naturally, most couples who have been married for a long time may have accumulated a substantial amount of wealth and property, which now must be equitably divided under Texas laws. All property that the couple has accumulated during the course of their marriage is considered joint martial wealth and therefore, it is liable to be divided. In a lot of cases, the couple might have already signed a prenuptial agreement, even before they got married, which can, to a large extent, solve any problems relating to financial issues.
One of the most important assets, when discussing property division, is usually the family home. The family home can not only be the most important and expensive asset that the couple has bought together, but it can also have a lot of emotional attachments. Thus, major disputes can arise regarding the family home.
In fact, the Washington Post has also reported that the nature of the property division of the family home also depends on the age of the couple in question. While older couples whose children have left the home to have their own lives and families are happy with selling off the property, younger families with kids may wish to keep the property instead of selling it.
Attorneys usually suggest that sitting down and finding an amicable settlement over what to do with the house is critical. Furthermore, in some cases, it is best to hire real estate agents instead of trusting such financial issues to friends who may often be biased and not objective. In some rare cases, the ex-spouses have also started staying in the same house even after their divorce. This relatively new phenomenon is called “nesting.”
Source: Realty Today, “The house is the most difficult property to divide for parting or divorcing couples,” June 24, 2015