Texas Partition Agreement With Texas In Travis
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FAQ
There are two potential pathways in seeking a partition: Partitions may be in kind (meaning that property is divided into separate parcels and each parcel is allotted to a separate owner) or by sale (meaning that property is sold and sale proceeds are divided among the owners).
Retaining an experienced family attorney is highly advisable when entering a Texas postnuptial agreement contract with your spouse. In fact, both parties should be represented by attorneys.
Another option could be selling your undivided interest. You should take into account that the undivided interest that you own is probably going to be discounted by the buyer. Why? Because if you sell your undivided interest to the buyer, then they inherit your problem of having to go through the partition process.
A competing plan from the state in 1871 proposed a north, east, south, and west division. Neither legislature made final approval of either plan. The "division of the state" issue continued over the years with an additional plan in 1906.
A marital property partition is an agreement between spouses that allows them to convert community property into the separate property of one spouse. This agreement must take place after the couple is married.
Code § 4.102. Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023. At any time, the spouses may partition or exchange between themselves all or part of their community property, then existing or to be acquired, as the spouses may desire.
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.
23.001. PARTITION. A joint owner or claimant of real property or an interest in real property or a joint owner of personal property may compel a partition of the interest or the property among the joint owners or claimants under this chapter and the Texas Rules of Civil Procedure.
Any co-owner has the right to file a partition action. A person who owns even a tiny fraction of joint property has standing to ask the court to divide the property or order a sale of the property to fairly divide the proceeds.
The process of partition action starts with one or more owners filing a petition in court. The court then examines the real estate details and the owners' interests to decide on the best division method.