SMITH & GARG, LLC

By the Estate Planning Attorneys at Smith & Garg, LLC, serving The Woodlands, Spring, Houston, Conroe, Humble, Kingwood, Tomball, Cypress, Huntsville, Westchase, Southwest, Sugar Land, West Oaks, Alief, Memorial, River Oaks, Stafford, Katy, Missouri City. Sugarland, Richmond, Alief and other surrounding areas in North, Northwest, South and Southwest Houston.

The Texas Family Code section 4.101 states that “At any time, the spouses may partition or exchange between themselves all or a part of their community property, then existing or to be acquired, as the spouses may desire.” This type of agreement is called a partition or exchange. Texas law favors the ability of spouses to agree to partition property and there is no need for judicial approval of the agreement like there would be if the agreement was incident to a divorce. A partition agreement also can allow for any income or future earnings of the transferred property to remain the separate property of the owning spouse. The partition or exchange agreement must be in writing and signed by the parties.

We invite you to contact us for a consultation. Call Smith & Garg, LLC at 1-877-517-4275 or complete our contact form.