Undivided Interest In Land Texas For Sale
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How to fill out Assignment Of Interests In Right Of Way (Undivided Interest)?
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FAQ
This can often be done without going back to court if both parties agree on how to divide the property. If you and your former spouse cannot agree on what to do with undivided community property, either of you may file a ?Suit for Post-Dissolution Partition? under Texas Family Code 9.201.
An example of an undivided interest would be purchasing a one-tenth undivided interest in 100 acres. The owner has not purchased 10 acres but one-tenth of the entire 100 acres. This entitles the co-owner to use the entire 100 acres; however, it also entitles the other owners to use the same 100 acres.
Each owner has a claim to the entire asset, albeit a proportional one. Sale or Transfer: An owner can typically sell or transfer their undivided interest to another party without requiring the consent of the other owners, although this may depend on the specific ownership agreement.
Any co-tenant may sell or convey his undivided interest in the property, but such sale will only convey an undivided interest, and the buyer or assignee will become a co-tenant with the other owners.