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Mixing Assets
In a Texas divorce, commingled property is one of the most difficult assets to divide. This is because it is not always clear what belongs to each spouse and what was mixed together during the marriage. In this blog, learn what commingled property is and how it is divided in a Texas divorce.
Defining Commingled Property
The term “commingled property” is often used in divorce proceedings. But what exactly does it mean?
In a nutshell, commingled property is any asset that has been mixed with other assets. This can happen in a number of ways, but the most common scenario is when one spouse uses money from a joint account to pay for something that only benefits them.
For example, let's say that you and your spouse have a joint checking account. You use some of the money from that account to pay for a vacation that you take by yourself. The court would likely view this as commingling because you've taken money from a shared account and used it for your own personal benefit.
Commingling can also happen when one spouse uses money from a joint account to pay off debts that they incurred before the marriage.
How Commingled Property is Divided
The court will look at a number of factors to determine whether commingling has occurred, including:
Whether the asset was acquired during the marriage;
Whether the asset is titled in both spouses' names;
Whether both spouses have contributed to the asset; and
Whether both spouses have benefited from the asset.
If the court finds that commingling has occurred, then it will typically classify the asset as community property. This means that it will be subject to division in a divorce.
Of course, there are some exceptions to this rule. For example, if an asset was inherited by one spouse, it will usually be classified as separate property.
Work with a Property Division Attorney
If you're going through a divorce, it's important to work with an experienced attorney who can help you protect your rights. Call the team at Law Office of Mark M. Childress today to schedule a consultation. We are more than happy to answer your questions and help you navigate the divorce process.
Call us at (817) 497-8148 or visit our website to get started.