If you are going through a divorce and you or your spouse owns property overseas, you may be wondering if that property will be included in the division of assets. The answer is, it depends.
As a divorce and child custody attorney in the state of Texas, I can tell you that overseas properties are treated the same as any other property when it comes to division in a divorce. If the property was acquired during the marriage, it is considered part of the “community estate” and subject to division.
However, there are many factors that the court will consider when deciding how to divide overseas property or whether it should be divided at all. Some of these factors include:
- Who actually provided the funds to purchase the property
- Who has been maintaining the property
- The overall value of the property compared to the rest of the community estate
- The type of property (e.g. vacation home, rental property, etc.)
- The length of the marriage
- Whether there are minor children involved and who will have custody of them
It’s important to keep in mind that every divorce is different and the specific circumstances of your case will be taken into consideration when deciding how to divide overseas property. If you have specific questions about your situation, our team at The Blacknall Firm is here to help. You can visit our website to schedule a call and discuss your case with us.