The Partition Agreement Template with Collateral in Franklin is a legal document designed to facilitate the voluntary division of real property among co-owners. It outlines the responsibilities and rights of each co-owner concerning the property, ensuring an equitable distribution. Key features include the detailed description of the property, specific tracts allocated to each co-owner as identified in attached exhibits, and the necessary execution of quitclaim deeds to formalize the division. For effective filling and editing, users must accurately complete the property description and specify any other parties with interests in the property. This template is essential for attorneys, partners, and owners involved in property disputes, as it provides a clear framework for resolution. Legal assistants and paralegals will find it useful for drafting documents and ensuring compliance with legal standards. The form is formatted for clarity, making it accessible to individuals with minimal legal experience.