For many couples in Texas considering a divorce, one of the biggest concerns is how the courts will handle their property. The asset division process can be quite intimidating, especially because it usually takes control away from the parties divorcing and gives all the power to the court.
For divorcing couples in Texas who own a home together, that home and its corresponding mortgage commonly represent the couples' largest financial asset and liability, respectively. Determining how to split those two things during a divorce is no easy task, especially when emotions come into play as can happen with a family home.
You have recently filed for divorce in Texas and while you are optimistic about how this decision will affect your future, you are concerned about the fact that your soon-to-be-ex is also your business partner. In this difficult position, you are faced with the uncertainty of dissolving a once-ideal business partnership. Depending on what you and your former spouse decide, one of you may also choose to exit the partnership to keep the business intact.