Sample Partition Agreement With Mexico In Tarrant
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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.
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.
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.
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.
Sec. 5.001. SALE, CONVEYANCE, OR ENCUMBRANCE OF HOMESTEAD. Whether the homestead is the separate property of either spouse or community property, neither spouse may sell, convey, or encumber the homestead without the joinder of the other spouse except as provided in this chapter or by other rules of law.
The partition deed is the legal document that allows a property to be divided among co-owners, ending joint ownership of the property. A partition deed clearly indicates which portion of the property belongs to which person.