A Partition Deed is a legal document used to divide co-owned property among multiple owners. This process typically occurs when co-owners of a property, such as siblings or business partners, decide to separate their interests in the property, often to facilitate individual ownership or to clarify rights.
The Partition Deed outlines the specifics of the division, detailing how the property will be divided—whether through physical division of the land (partition in kind) or through the sale of the property and distribution of the proceeds (partition by sale). This deed must be executed by all co-owners and is usually recorded in the county property records to provide public notice of the new ownership structures.
For example, if three siblings inherit a family home and decide they no longer wish to co-own it, they may execute a Partition Deed that either divides the property into separate parcels or sells the home and shares the proceeds. In Houston and the surrounding areas of Texas, the process and requirements for a Partition Deed may vary slightly based on local property laws, but the fundamental principles remain consistent across the state.
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