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Dividing rental properties in a Texas divorce

If you and your spouse purchased real estate to rent out to others during your marriage, those properties may be your primary source of income and the most substantial assets that you own. It’s completely understandable that you might feel worried about what will happen to those properties in your divorce.

Exactly what will happen depends on a number of factors. The first and most important will be whether or not you can reach an agreement with your spouse on what to do with the property.

Maybe you want to move slightly north of your current residence and would like to retain the two rental properties closest to the new neighborhood where you will live. Perhaps you are only interested in maintaining single-family homes and want your ex to take the multi-family units that you own.

Regardless of what motivations and desires you have when splitting complex assets up in a Texas divorce, if you set your own terms with your spouse, the two of you can maintain control over the outcome.

If you can’t agree to terms for the division of your property, then the Texas family courts will have to make those decisions for you. The judge presiding over your case will consider many different factors, including when you purchased the property, your income and even the custody of your children when deciding how to divide complicated assets as part of your divorce.

Generally speaking, the Texas courts will apply the community property standard to the assets and debts from your marriage. They could split the properties up or order you to sell them and share the proceeds. Your attorney can help you determine the value of the properties and establish a strategy can make it easier for you to advocate for a fair and positive outcome.

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