Uncontested divorce, TX

What is the name of your state? Texas


Can anyone please tell me how I can make an agreement for the family home to be sold at a later date, when the minor is older, do I need to record it with the county and how so? Will that be in the settlement agreement? Also, the spouse has a stake in a small corporation, how do I include that and where?


Thanks to anyone who can help!

Thanks, but.......

So where does that go, in the settlement agreement, the petition, the decree? And there's no need to record that with the county with a deed, because there are no plans to sell the house anytime soon, also what about the business he has a share in?

NickGreen said:

So where does that go, in the settlement agreement, the petition, the decree? And there's no need to record that with the county with a deed, because there are no plans to sell the house anytime soon, also what about the business he has a share in?

Click to expand...

It would go in the settlement agreement, as would any financial matters.

There are a few decisions that have to be made though. For example, if the party living in the house is going to be making all of the mortgages payments until the child is 18, then it would only be fair that they recieve a greater portion of the equity in the home when its sold. Therefore you need to work out a formula for that. (similiar to what was outlined in that other thread) You should also address major maintainance issues as well.

As far as the business he has a share in....unless it can be valued, and/or his share easily sold, or it brings him significant yearly income, then it may not be anything that can fairly be included in the property settlement.

What kind of a business is it? Is it a family business? Does he make significant yearly income from it? Did he spend marital assets to invest in the business? Was it inherited?

Thanks.....

Would I need to record an agreement with the county at all, in terms of writing a deed? Also, the business is a small strip mall, with 2 units. And yes, there is income from the rent or the units, and as the couple has been married 25 years, communal money has been invested into this business.