An action for partition usually arises when there is a dispute as to how to divide property, or in a dispute as to whether property should be sold. One co-owner of real property can file to get a court order requiring the sale of the property and division of the profits, or division of the land between the co-owners, which is often a practical impossibility. Normally, a partition order provides for an appraisal of the total property, which sets the price for one of the parties to buy out the other's half.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Travis Texas Agreement by Co-Tenants Restricting Right of Partition is a legal document that outlines restrictions placed on co-tenants regarding the partition of jointly-owned property in the Travis County, Texas area. This agreement serves as a means to protect the interests and investments of co-tenants by restricting the ability to divide or sell the property without the consent of all parties involved. The purpose of the Travis Texas Agreement by Co-Tenants Restricting Right of Partition is to ensure that all co-tenants are in agreement and have a say in any decisions relating to the property. The agreement helps maintain the integrity of the property and prevents any forced partition that may not be beneficial to all co-tenants. There are different types of Travis Texas Agreements by Co-Tenants Restricting Right of Partition that are commonly used: 1. Non-Partition Agreement: This type of agreement restricts the right of any co-tenant to partition the property. It ensures that the property remains undivided and can only be sold or partitioned with unanimous consent. 2. Limited Partition Agreement: This agreement allows for partition under specific circumstances. For example, it may stipulate that partition can occur if a certain percentage of co-tenants agree or if specific conditions are met. 3. Time-Bound Partition Agreement: This type of agreement restricts the right of partition for a certain period of time. It may specify that the property cannot be partitioned until a specific date or event occurs, ensuring that all co-tenants remain invested in the property for a defined period. 4. Partial Partition Agreement: This agreement allows for partial partition of the property, where a portion of the property can be divided while the rest remains undivided. It may be utilized when co-tenants wish to separate their interests in a specific part of the property without completely dividing ownership. Overall, the Travis Texas Agreement by Co-Tenants Restricting Right of Partition is a valuable legal tool that allows co-tenants to establish guidelines and limitations to protect their shared property interests. By detailing the different types of agreements, it ensures that co-tenants have a clear understanding of their rights and responsibilities when it comes to the partition of the property.
