San Antonio Real Estate Property Attorney

San Antonio Real Estate Property Lawyer Serving Bexar County

The process of dividing property during a divorce can become very complicated. In addition to determining whether certain assets are considered community property or separate property, spouses may need to make decisions about how they will handle ownership of a variety of complex assets. Real estate property is likely to account for a significant portion of the marital estate. Whether a couple needs to decide who will keep the marital home or address other properties they own, a spouse can protect their financial interests by working with a lawyer who can help them understand the best ways to handle these assets.

At the law firm of Brandon Wong & Associates, we know how difficult it can be to end your marriage, but by taking the right steps during the divorce process, you can protect yourself against financial losses and make sure you will have the resources to meet your needs in the future. We can advise you on your rights regarding your marital home or other properties you and your spouse own, and whether you choose to divide or sell real estate assets, we can make sure you follow the correct procedures and avoid complications that could affect you down the road. We will work to help you achieve your goals and make sure you are in a good financial position as you move forward following your divorce.

Is Real Estate Community Property or Separate Property?

As you address issues related to property and assets during your divorce, you will need to understand whether real estate is considered to be community property, meaning that it is jointly owned by you and your spouse, or separate property that is owned by one party. If you purchased a home or other property during your marriage, it is community property, even if only one spouse's name is on the title or mortgage. The value of this asset will need to be considered as you determine the full value of the marital estate. Depending on how you divide your marital assets, either you or your spouse may retain ownership of the home, or you may choose to sell the home during the divorce process in order to ensure that all of your assets can be divided fairly.

A home or other property may be considered separate property if it was owned by either you or your spouse before getting married, if it was received by one spouse as a gift or inheritance, or if it was obtained in exchange for other separate property. However, a separately-owned home or property will still need to be addressed during the divorce process. The value of this asset may be considered when looking at the financial resources available to each spouse, which may inform how marital property will be divided. Contributions to separate property by each spouse may also need to be considered. For example, if your spouse owned a home before you were married, but you contributed to mortgage payments during your marriage or helped make improvements to the property, you may be able to receive reimbursement for these contributions.

Addressing Ownership of Real Estate

It is important to make sure transfers of ownership of real estate property are handled correctly during the divorce process. Failure to properly address issues related to the home's title or mortgage could lead to complications or financial problems in the future. For example, if you and your spouse co-own your home, and your spouse will be maintaining sole ownership of the home after your divorce, you will need to have your name removed from the title, and the mortgage will need to be refinanced in your spouse's name. If you do not take these steps, and your spouse fails to make mortgage payments in the future, the lender may take legal action to recover payments from you. If your name remains on the title of the home, this could prevent you from purchasing a new home in the future. By dealing with these issues with the help of a skilled lawyer, you can make sure you will be able to move forward with your life free of complications.

Contact Our San Antonio Property Division Attorneys for Real Estate

Our lawyers can assist you in addressing issues related to real estate property. In addition to your marital home, we can also help you address other properties, such as vacation or guest homes, commercial real estate, investment properties, or other land owned by you and/or your spouse. Contact our office today at 210-201-3832 to discuss these and other issues in your initial consultation.