Texas Partition Agreement With Spouse In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00410
Format:
Word;
Rich Text
Instant download
Description
This Partition Agreement is an Agreement for the Partition and Division of Real Property. This is a Voluntary agreement to partition and divide real property. This Agreement can be used in any state. This Agreement is to be signed in front of a notary public.
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A marital property partition is an agreement between spouses that allows them to convert community property into the separate property of one spouse. A partition agreement divides, or partitions, a married couple's community estate into two separate estates.Under the Texas Family Code, at any point in time, the spouses may exchange or partition their community property however they want. Details about spouses partitioning or exchanging community property between themselves are in the Texas Family Code section 4.102. It is also possible to file a "friendly" partition action if the parties desire a court decree that ratifies their agreement. The Texas Family Code authorizes a "marital property agreement" between spouses. Texas Family Code Section 4.102 allows for spouses to partition or exchange between themselves all or part of their community property. In a lawsuit for partition, a judge can order that the property be sold, and the proceeds divided between the joint owners.