Looking for local rules and forms? A partition and exchange agreement is a legal contract between divorcing couples that outlines the terms of their property division and distribution.Title describes the scope of ownership of private property, and how one holds title to property impacts flexibility in how it is managed and used. Careful review of the record leads us to conclude that the trial court made a diligent and commendable effort to fairly distribute the marital property. This Agreement supersedes and replaces all prior agreements and understandings of the parties.