The Texas Agreement to Partition Real Property According to Award of Surveyor is a legal document used to divide and distribute land or real estate among co-owners in Texas, based on the findings and recommendations of a surveyor. This agreement is specifically designed to settle disputes or disagreements regarding the division of property. Keywords: Texas, agreement to partition real property, award of surveyor, land division, co-ownership, legal document, settlement, disputes, distribution There are two common types of Texas Agreement to Partition Real Property According to Award of Surveyor: 1. Texas Agreement to Partition Real Property According to Award of Surveyor for Residential Properties: This type of agreement is commonly used when co-owners of a residential property, such as a house or apartment complex, wish to divide and distribute the property among themselves. The agreement will outline the specific portions of the property allocated to each co-owner based on the surveyor's award. 2. Texas Agreement to Partition Real Property According to Award of Surveyor for Agricultural or Commercial Properties: In cases where co-owners own agricultural land, commercial buildings, or any other type of non-residential property, this agreement is utilized. The award of the surveyor will determine the distribution of different parcels or sections of the property to each co-owner, taking into account factors such as size, value, and existing structures. The Texas Agreement to Partition Real Property According to Award of Surveyor is a crucial legal instrument as it ensures a fair and equitable division of property among co-owners. By relying on the expertise of a surveyor, who assesses and determines the appropriate boundaries and shares, this agreement helps resolve conflicts and eliminates ambiguity during the partition process. In addition to co-ownership scenarios, this agreement is often employed in situations where property owners seek to dissolve a partnership or business arrangement. By adhering to the award of the surveyor, all parties involved can avoid protracted litigation and reach a mutually agreeable and legally binding resolution. It's important to consult with a qualified attorney or legal professional familiar with Texas real estate laws when drafting and executing this agreement. They can provide guidance and ensure that all necessary legal requirements are met, helping to protect the rights and interests of each co-owner throughout the partition process.
Texas Agreement to Partition Real Property According to Award of Surveyor
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FAQ
Costs in a partition action are paid by each party pro rata ing to the value of that party's partitioned share.
A partition action can take 6-12 months on average. If the partition lawsuit involves land that is to be partitioned "in-kind", you can expect 12-24 months before final judgment. In most cases, partition actions are settled out of court.
In Texas, disputes involving jointly owned property are frequently settled through a legal process known as ?partition.? When co-owners of a home cannot agree on matters relating to the home, the court can force the sale of the real property and distribute the proceeds of the sale to the co-owners per their ownership ...
Texas law provides each co-owner of real property with an absolute right to have their property partitioned through a forced judicial sale.
In a partition by allotment, which is not available in all jurisdictions, the court awards full ownership of the land to a single owner or subset of owners, and orders them to pay the person or persons divested of ownership for the interest awarded.
There are at least several ways to win a partition action suit, not the least of which include: Selling your equity at a fair price. Selling the house on the open market. Receiving compensation for money put into the home. Renting the property. Keeping the property for yourself and buying out the other co-owners.
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.