They cannot be used to transfer community property to third parties. This article dissects the remedy of partition with reference to New York's scheme.A marital property partition is an agreement between spouses that allows them to convert community property into the separate property of one spouse. If you are in a divorce dispute, don't wait to contact the experienced Montgomery divorce attorney at The Stout Law Firm today. Just remember that even though you have a "Partition and Exchange Agreement" it does not mean that you are divorce, you are still married. . A property settlement agreement becomes a legally binding part of the final judgment when your marriage is officially dissolved. The parties desire to settle and liquidate the community that formerly existed between them, and have agreed to do so as set forth in this agreement.