Dividing up community property and confirming debt
The court has the authority to divide and dispose of the spouses assets and liabilities during a divorce. The statutory authority the State of Texas gives the courts this authority includes the ability to determine the liability to third party creditors as between the spouses. While the court does not have the power to change liability on community debt in relation to third party creditors, the court can order that one spouse has to pay the debt or that property must be sold to pay off the debt.
A sworn inventory report is generally the first step in dividing up and discovering property to be divided or the liabilities owed by the spouses. There are other discovery methods such as interrogatories, depositions, requests for production of documents, or informal discovery. A few common types of liabilities include, but are not limited to the following: mortgages; credit cards, car loans; income taxes ect… to be continued. If you would like to get more information please contact Clifford Swayze.