Need a Partition and Exchange Agreement in Texas?
Family Lawyer in Houston Explains Postnuptial Agreements
Some spouses during marriage wish to transfer community property into separate property, or arrange for community property to be separate in the future. This can be done via post-marital or postnuptial agreement in Texas. This is not a divorce or legal separation. However, it is simply another way to classify and transfer property by married spouses.
Family lawyer in Houston John K. Grubb has been drafting, reviewing and enforcing premarital and post-marital agreements for over 30 years. He has a history of representing spouses with high incomes and business interests for partition and exchange agreements in Texas.
First, What is a Partition and Exchange Agreement?
A partition and exchange agreement is a post-marital contract between spouses. Texas community property laws allow spouses to agree to partition or exchange any or all of their community property into separate property. This includes property the spouses own now or may own in the future. Future earnings and income may also be partitioned and exchanged in this manner. Any property or income arising from a partition and exchange agreement will then be separate property of the owning spouse.
Next, When Can I Enter into a Postnuptial Agreement?
At any time after marriage, Texas spouses may enter into post-marital agreements. This then partitions or exchanges between themselves all or part of their community property, then existing or that they will acquire as the spouses may desire. Once the spouses’s partition or excahnge the property, it is then a spouse’s separate property.
Furthermore, in a post marital agreement, the parties may agree to convert all or part of the separate property owned by either or both of the spouses into community property. The requirements for preparing a post-marital agreement are virtually identical to the requirements for preparing a Houston prenuptial agreement.
Need More Info on a Partition and Exchange Agreement in Texas?
Attorney John K. Grubb has been assisting clients throughout the greater Houston TX area for over 30 years. He has clients in Harris County, Montgomery County and Fort Bend County. If you have questions regarding a partition and exchange agreement in Texas, then call us directly at (713)877-8800.