Texas Partition Agreement With Exchange In Hillsborough
Description
Form popularity
FAQ
What happens to our community property if my spouse dies? If there is a valid will, your spouse's separate property and his/her share of the community property will be divided ing to the instructions in the will.
Yes, but only if you keep it distinct from community property and maintain clear records to prove its separate status. Commingling funds can lead to the entire account being considered community property.
PARTITION. A joint owner or claimant of real property or an interest in real property or a joint owner of personal property may compel a partition of the interest or the property among the joint owners or claimants under this chapter and the Texas Rules of Civil Procedure.
The remedy when agreement cannot be reached is for one or more of the co-owners to seek a court-ordered division by means of a partition suit. It is also possible to file a “friendly” partition action if the parties desire a court decree that ratifies their agreement.
Property acquired during the marriage (outside of the noted exceptions) is considered community property. The spouses can, however, agree to convert (or “transmute”) community property into separate property. In Texas, this is done via a written agreement establishing a partition or exchange between the parties.
With this in mind, if you and your spouse purchased a home during your marriage, the home will most likely be characterized as community property. If you or your spouse owned the home before marriage, it will most likely be considered separate property (and possibly subject to reimbursement claims).
Under Texas law, spouses can enter into partition or exchange agreements in which one spouse transfers all or part of their present or soon-to-be-acquired community property to the other, thereby transmuting it into the separate property of the receiving spouse.
Declaration and Registration of Informal Marriage. (a) A declaration of informal marriage must be signed on a form prescribed by the bureau of vital statistics and provided by the county clerk. Each party to the declaration shall provide the information required in the form.
Section 6.711 - Findings of Fact and Conclusions of Law (a) In a suit for dissolution of a marriage in which the court has rendered a judgment dividing the estate of the parties, on request by a party, the court shall state in writing its findings of fact and conclusions of law, including the characterization and value ...