A partition and exchange agreement is a legal contract between divorcing couples that outlines the terms of their property division and distribution. Company may initiate the exercise of a renewal option upon providing a written request of such exercise to Authority's Chief Executive Officer.A marital property partition is an agreement between spouses that allows them to convert community property into the separate property of one spouse. He or she shall be entitled to partition or division in fee; if a life estate or a term for years, he or she shall be entitled to partition or division. This page contains all of the Family Law court case forms that the Clerk's Office provides.