Full question:
On the petition form, under discovery, level 1 asks about less than $50,000 in property. Does this include a house with a mortgage? We are trying to sell the house and have agreed to split any profit or debt associated. We also agree to divide community property on our own, so does property need to be itemized on the decree form?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Texas
Answer:
In a divorce case, all marital property must be addressed and divided in the final decree according to the law. If the couple owns a home when the divorce petition is filed, it should be included in the property list. If they agree to sell the home during the divorce, the division of proceeds can be included in the final divorce decree. The property settlement in the decree will govern how debts and assets are divided. Private agreements between the couple cannot change the divorce decree and will not be enforceable in court.
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