Partition Agreement Format In Houston
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A California partition action happens when one co-owner of real property wants to sell but other co-owners do not want to sell their ownership rights. Partition means division. The opposing co-owners have the absolute right by law to divide the property and sell their portion with the legal remedy of “Partition”.
Partition by Sale In this case, the property is sold, and the proceeds are divided among the co-owners based on their ownership shares. This process is often contentious because it forces a sale, even if one owner wants to keep the property. Still, it's a common solution when co-owners are at an impasse.
Retaining an experienced family attorney is highly advisable when entering a Texas postnuptial agreement contract with your spouse. In fact, both parties should be represented by attorneys.
There are two potential pathways in seeking a partition: Partitions may be in kind (meaning that property is divided into separate parcels and each parcel is allotted to a separate owner) or by sale (meaning that property is sold and sale proceeds are divided among the owners).
23.001. 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.
4.102. PARTITION OR EXCHANGE OF COMMUNITY PROPERTY. At any time, the spouses may partition or exchange between themselves all or part of their community property, then existing or to be acquired, as the spouses may desire.
Remedy for Excessive Appraisal. If the court determines that the appraised value of property ing to the appraisal roll exceeds the appraised value required by law, the property owner is entitled to a reduction of the appraised value on the appraisal roll to the appraised value determined by the court.
Texas courts are required to partition property even if only one co-owner makes such a request, and the courts have no wiggle room or discretion. The court must order the property partitioned. Partition is sometimes referred to as a “forced sale.” Partition only applies to real property and not personal property.
Section 23.006 - Access Easement for Partitioned Property (a) Unless waived by the parties in an action to partition property under this chapter, the commissioners appointed to partition property shall grant a nonexclusive access easement on a tract of partitioned property for the purpose of providing reasonable ...
Code § 4.102. Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023. At any time, the spouses may partition or exchange between themselves all or part of their community property, then existing or to be acquired, as the spouses may desire.