Asset Division

There are certain assets that remain the exclusive property of one of the marriage partners, even after marriage, and some will be divided. This is done with debts as well. Most debt incurred while married will be shared upon dissolution, though a few personal debts may remain exclusively yours and not shared with your soon to be ex-spouse.

What kinds of property can be divided after a divorce?

Any property that existed at the time of the divorce that was not addressed in the divorce decree can be divided after divorce through a suit to partition. However, you cannot use a post-divorce partition suit to dispute and change the property division that was actually included in the divorce decree.

Types of property that can be divided after a divorce include, but are not limited to:

Real property

Vehicles and other personal property

Income received during the marriage, including a bonus or commission based on work completed during the marriage

Tax refunds issued from an amended tax return.

Every marriage has at least one topic in common – property. Whether they own a million-dollar mansion or a beat-up RV, a couple will always have to divide up the property and debt.