Texas Partition Agreement With Spouse In Oakland
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A partition agreement divides, or partitions, a married couple's community estate into two separate estates. It is sometimes called a post-nuptial or post-marital agreement and is similar to a prenuptial agreement, except that it is executed by a married couple.
A partition agreement does not have to be approved by the court as just and right. In addition to being in writing and signed by both parties, a partition agreement must either specifically reference “partition” or show the parties' intent to convert the property from community property to separate property.
Community vs. Separate property, as defined under Texas law, is any asset that you owned before your marriage, as well as anything you received individually as a gift or inheritance during your marriage. Pre-marriage ownership – Anything you owned before you got married remains solely yours.
Texas is one of nine states that is a community property jurisdiction. In general, this means that any property acquired by a couple during their marriage (with a few exceptions) is equally owned by both spouses.
The parties acknowledge that, to convert additional separate property of either party into com- munity property, the parties must prepare and sign a separate written instrument. This agreement may be enforced by suit in law or equity by either of the parties or by their heirs, executors, attorneys, or assigns.
Texas presumes property acquired during marriage is community property, but exceptions exist for separate property owned before marriage or received as gifts. Inheritances remain separate property if not commingled with community assets. Keep inheritances in a separate account to maintain their status.
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.
Ing to the Texas Constitution, separate property is that which is "owned or claimed before marriage, and property acquired afterward by gift, devise, or descent." Even gifts that are intended to be shared by both spouses cannot be listed as community property (although each could claim half of it as separate ...
