|Dividing Assets & Liabilites
Division of Assets & Liabilities
The Texas District Courts, in granting a divorce, divide the community assets and liabilities of the parties. Community assets and liabilities are presumed to be any and all assets and liabilities that are owned during the course of the marriage. Separate property of a party is property acquired by a party prior to the marriage or by gift or inheritance and is not divisible by the Court and must be awarded to the party who received such separate property.