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Partition Agreement Of Property In Texas

State:
Multi-State
Control #:
US-00410
Format:
Word; 
Rich Text
Instant download

Description

The Partition Agreement of Property in Texas is a legal document designed to facilitate the voluntary division of real property among co-owners. It outlines the ownership details, confirms that all co-owners are aware of their property rights, and specifies how the property will be divided in-kind. Key features of this agreement include the identification of each co-owner's share, referenced by attached exhibits, and the requirement for executing quitclaim deeds to formalize the transfer of interests. This agreement is particularly useful for attorneys and paralegals assisting clients in resolving disputes over jointly owned property, as well as for partners and owners seeking to clarify ownership divisions amicably. Filling out this form requires careful attention to detail, ensuring all parties agree on property descriptions and division terms. Legal assistants can play a crucial role in ensuring that all necessary documentation, including notarial acknowledgments, is correctly completed and filed. Overall, this agreement serves as a clear framework for property division, promoting fairness and clarity among co-owners.
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  • Preview Agreement for the Partition and Division of Real Property
  • Preview Agreement for the Partition and Division of Real Property
  • Preview Agreement for the Partition and Division of Real Property
  • Preview Agreement for the Partition and Division of Real Property
  • Preview Agreement for the Partition and Division of Real Property
  • Preview Agreement for the Partition and Division of Real Property

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FAQ

Unless both spouses agree, a spouse must prove that something is separate property by “clear and convincing evidence.” If a spouse cannot prove something is separate property, it is considered to be community property. Read Gathering and Presenting Evidence to help you understand what is allowed in court.

It is presumed that any property on hand at the time of divorce is community property. The spouse who is claiming an asset as his/her separate property has the burden of proving that claim by clear and convincing evidence.

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).

Even if only one spouse's name is on the deed, any property bought during the marriage is presumed to be community property, unless it was bought with separate property funds. The spouse claiming it as separate property must prove it in court.

Property acquired during the marriage (outside of the noted exceptions) is considered community property. The spouses can, however, agree to convert (or “transmute”) community property into separate property. In Texas, this is done via a written agreement establishing a partition or exchange between the parties.

Property Division: Any property acquired during the marriage is considered community property and will be divided equally upon divorce, just like in a formal marriage. For example, if you buy a house together while in a Common Law Marriage, that house is considered joint property, and both parties have equal ownership.

One common misconception among divorcing couples in Texas is that all assets are automatically split 50/50. The automatic 50/50 split is a myth!

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Partition Agreement Of Property In Texas