What is Section 23A 006 of the Texas property code?

23A. 006. DETERMINATION OF VALUE. (a) Except as provided by Subsection (b) or (c), if the court determines that the property that is the subject of a partition action is heirs' property, the court shall determine the fair market value of the property by ordering an appraisal under Subsection (d).

US Legal Forms
Forms Kit
1200 Civil Action Forms
Multi-State
Agreement for the Partition and Division of Real Property

Partition Agreement Sample With Sale In Tarrant

Category:

Civil Actions - Partitions

State:

Multi-State

County:

Tarrant

Control #:

US-00410

Format:

Instant download

Description

The Partition Agreement Sample With Sale in Tarrant is designed for co-owners of real property to voluntarily partition and divide their land. The form outlines the specific tracts assigned to each co-owner and ensures clarity in ownership after division. Central features include the requirement for quitclaim deeds to formally transfer property rights among co-owners, ensuring that each party acknowledges their ownership status. Filling instructions include stating the property description, identifying co-owners, and detailing any other claims or liens on the property. The agreement specifies that co-owners will release each other from claims on the divided property post-execution. This form is particularly valuable for attorneys, partners, and co-owners who need to resolve property disputes amicably. Paralegals and legal assistants can assist in drafting and ensuring compliance with state regulations. The form also provides a standardized approach to property division, making it an efficient tool for legal professionals and their clients in real estate matters.

Deed of partition in uk for a trust withdrawal

View this form

Best partition format for linux and windows

View this form

Lease of Retail Store with Additional Rent...

View this form

Affidavit by Corporate Officer before a No...

View this form

Contract with Skateboard Instructor as a S...

View this form

Sample Letter for Confirmation of a Direct...

View this form

Artist Management Agreement

View this form

Satisfaction of Judgment for Civil Trial

View this form

Form popularity

FAQ

The Uniform Partition of Heirs Property Act preserves the right of a co-tenant to sell his or her interest in inherited real estate, while ensuring that the other co-tenants will have the necessary due process to prevent a forced sale: notice, appraisal, and right of first refusal.

Sec. 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.

The process of partition action starts with one or more owners filing a petition in court. The court then examines the real estate details and the owners' interests to decide on the best division method.

Texas law provides each co-owner of real property with an absolute right to have their property partitioned through a forced judicial sale.

Every co-owner of an interest in the property (no matter how small) must agree in order for a voluntary partition to occur. 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.

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.

23A. 006. DETERMINATION OF VALUE. (a) Except as provided by Subsection (b) or (c), if the court determines that the property that is the subject of a partition action is heirs' property, the court shall determine the fair market value of the property by ordering an appraisal under Subsection (d).

If one owner wants to sell a jointly owned property but the other owner(s) refuse, the party seeking to sell can file a partition action. This legal procedure allows a court to intervene and force the sale of the property, dividing the proceeds among the owners ing to their ownership interests.