Form 63-7

This example is furnished merely for illustration and should not be used as a standard form. The nature of partition or exchange agreements makes the variables so numerous as to defy the use of simple forms.

This form is designed to be used by married persons to partition or exchange community property as desired and to agree that all future income and property arising from the property being partitioned or exchanged will also be separate property.

Partition or Exchange Agreement

[Complex]

The parties to this Partition or Exchange Agreement are [name of party A], of [county] County, Texas, and [name of party B], of [county] County, Texas.

Stipulations

1.The parties are entering into this agreement in accordance with article XVI, sec­tion 15, of the Texas Constitution, as amended, and relevant sections of the Texas Family Code, as amended. Section 3.001 of the Texas Family Code defines a spouse’s separate prop­erty as the property owned or claimed by the spouse before marriage; the property acquired by the spouse during marriage by gift, devise, or descent; and the recovery for personal injuries sustained by the spouse during marriage, except any recovery for loss of earning capacity during marriage. Section 3.002 of the Texas Family Code defines community property as the property, other than separate property, acquired by either spouse during the marriage. Texas law provides that income from separate property during the marriage is community property. A partition and exchange agreement makes what would otherwise be community property instead be separate property.

2.The parties acknowledge and agree that they are making and entering into this agreement voluntarily and without the intention to defraud or prejudice preexisting creditors.

3.The parties own as community property certain real and personal property as described in Schedules A and B, which are attached to this agreement. The parties intend by this agreement to partition or exchange those properties between themselves.

4.Each party desires to partition or exchange that community property in order for each party, following the execution of this agreement, to hold and possess [his or her/his/her] share of the property as [his or her/his/her] sole and separate property.

5.The parties intend to clarify their respective property rights to eliminate any uncer­tainty about those rights.

6.The parties intend by this agreement that no community property will be created during the remainder of their marriage.

In consideration of the mutual promises, agreements, partitions, exchanges, releases, and waivers contained in this agreement and in consideration of the parties’ desire to establish certain rights and obligations by this agreement, and with the intent to be fully bound by the terms of this agreement, the parties covenant, agree, and contract as follows:

Article 1 

Statement of Facts

1.1Property of Parties

The parties own as community property all the property described in Schedules A and B attached to this agreement.

1.2Disclosure

Each party represents and warrants to the other party that [he or she/he/she] has [include if applicable: , to the best of [his or her/his/her] ability,] made to the other party a [complete and accurate/fair and reasonable] disclosure of the nature and extent of the commu­nity property of the parties, including values, and financial obligations, contingent or other­wise, and that the disclosure includes but is not limited to the property and liabilities set forth in Schedules A, B, C, and D attached to this agreement and other documentation exchanged between the parties before their signing of this agreement. Each party additionally acknowl­edges that, before the signing of this agreement, [he or she/he/she] has been provided a fair and reasonable disclosure of the community property and financial obligations of the parties. Furthermore, and before the execution of this agreement, each party has previously offered to provide, or has provided, to the other party all information and documentation pertaining to all community property, including income and value, and all financial obligations that have been requested by the other party. Each party acknowledges that [he or she/he/she] has, or reason­ably could have had, full and complete knowledge of the community estate of the parties and of all financial obligations of the community estate of the parties.

Article 2 

Partition of Property

2.1Property Partitioned to [name of party A]

The parties agree that [name of party A] will own, possess, and enjoy as [his/her] sole and separate estate, free from any claim of [name of party B], the property listed in Schedule A attached to this agreement. [Name of party B] partitions and exchanges to [name of party A] all [her/his] community-property interest in and to all the property listed in Schedule A, together with any insurance policies covering the property and any escrow accounts that relate to it. [Name of party B] grants, releases, and confirms to [name of party A] and to [his/her] heirs and assigns all right, title, and interest in and claims to the property listed in Schedule A, to have and to hold the same, with all and singular the hereditaments and appurtenances thereto belonging forever.

2.2Property Partitioned to [name of party B]

The parties agree that [name of party B] will own, possess, and enjoy as [her/his] sole and separate estate, free from any claim of [name of party A], all the property listed in Sched­ule B attached to this agreement. [Name of party A] partitions and exchanges to [name of party B] all [his/her] community-property interest in and to all the property listed in Schedule B, together with all insurance policies covering the property and all escrow accounts that relate to it. [Name of party A] grants, releases, and confirms to [name of party B] and to [her/his] heirs and assigns all right, title, and interest in and claims to the property listed in Schedule B, to have and to hold the same, with all and singular the hereditaments and appurtenances thereto belonging forever.

2.3Asset Descriptions

The parties have tried to use the correct legal description for each asset listed in any schedule attached to this agreement. If any asset is incorrectly described, the description used is adequate for the purposes of this agreement and accompanying schedules, and the parties agree to execute any additional paperwork required to confirm ownership in the name of the party in whose schedule the asset appears.

2.4[No] Joint Ownership

Following their execution of this agreement, the parties will not jointly own, legally or equitably, any property or property rights, nor will any sort of partnership or joint venture, oral or written, exist between the parties.

Following their execution of this agreement, the parties will continue to jointly own certain property, which is reflected, along with each party’s ownership interest, in the attached Schedule E.

2.5No Community Estate Will Arise

The parties agree that, following the partition or exchange of property as set forth in this agreement, no community estate will arise or be created during the remainder of their marriage. Therefore, the parties agree that all earnings for personal services and services ren­dered, income, employee benefits, partnership benefits, corporate benefits, including bonuses, director’s compensation, commissions, and wages or salary of each party, as well as all other income received by a party, including interest and dividend income, profits, distributions, rev­enues, royalties, stock, stock options, warrants, and other compensation and benefits of any type and any income and property derived from the reinvestment of such earnings and income, will be the separate property of the respective party.

Article 3 

Separate Property of the Parties

3.1Separate Property of [name of party A]

[Name of party B] covenants and agrees that, following the parties’ execution of this agreement, the following will constitute the separate property of [name of party A]:

1.all properties listed in Schedule A attached to this agreement;

2.all mutations, changes, and increases in kind or in value of [name of party A]’s separate property;

3.all increases in kind or in value of [name of party A]’s separate property resulting from the time, talent, labor, or personal efforts of either or both parties;

4.all income and revenues from [name of party A]’s separate property, all income and property acquired as a result of [name of party A]’s separate property, and all income and property resulting from the reinvestment of that income, including interest and dividend income;

5.all of [name of party A]’s interest in or claim to any future profits of any partner­ship, joint venture, or corporation owned by [name of party A] at the time of the parties’ exe­cution of this agreement or acquired by [name of party A] thereafter, whether the profits are distributed or undistributed;

6.all profits, commissions, distributions, revenues, royalties, wages, salary, earnings, income, employee benefits, partnership benefits, corporate benefits, director’s compensation, bonuses, stock, stock options, warrants, or other compensation or benefits of any type earned or received by [name of party A] after the date of the parties’ execution of this agreement, and all income and property derived from the reinvestment of [name of party A]’s profits, commis­sions, distributions, revenues, royalties, wages, salary, earnings, income, employee benefits, partnership benefits, corporate benefits, director’s compensation, bonuses, stock, stock options, warrants, or other compensation or benefits of any type earned or received by [name of party A] during the remainder of the marriage, together with all interest and dividend income received by [name of party A] during the remainder of the marriage;

7.all future contributions to all individual retirement accounts, all retirement plans, and all other employee benefit plans made by or on behalf of [name of party A] after the date of the parties’ execution of this agreement, together with all increases in value of all such plans;

8.all interests in any trust in which [name of party A] has an interest, including but not limited to all corpus of the trusts, as well as all distributed and undistributed income from the trusts;

9.all recovery for personal injuries or property losses sustained by [name of party A] during the marriage, including any recovery for loss of earning capacity during the marriage; and

10.all property and property rights acquired by [name of party A] by gift, devise, or descent.

3.2Separate Property of [name of party B]

[Name of party A] covenants and agrees that, following the parties’ execution of this agreement, the following will constitute the separate property of [name of party B]:

1.all property listed in Schedule B attached to this agreement;

2.all mutations, changes, and increases in kind or in value of [name of party B]’s separate property;

3.all increases in kind or in value of [name of party B]’s separate property resulting from the time, talent, labor, or personal efforts of either or both parties;

4.all income and revenues from [name of party B]’s separate property, all income and property acquired as a result of [name of party B]’s separate property, and all income and property resulting from the reinvestment of that income, including interest and dividend income;

5.all of [name of party B]’s interest in or claim to any future profits of any partner­ship, joint venture, or corporation owned by [name of party B] at the time of the parties’ exe­cution of this agreement or acquired by [name of party B] thereafter, whether the profits are distributed or undistributed;

6.all profits, commissions, distributions, revenues, royalties, wages, salary, earnings, income, employee benefits, partnership benefits, corporate benefits, director’s compensation, bonuses, stock, stock options, warrants, or other compensation or benefits of any type earned or received by [name of party B] after the date of the parties’ execution of this agreement, and all income and property derived from the reinvestment of [name of party B]’s profits, commis­sions, distributions, revenues, royalties, wages, salary, earnings, income, employee benefits, partnership benefits, corporate benefits, director’s compensation, bonuses, stock, stock options, warrants, or other compensation or benefits of any type earned or received by [name of party B] during the remainder of the marriage, together with all interest and dividend income received by [name of party B] during the remainder of the marriage;

7.all future contributions to all individual retirement accounts, all retirement plans, and all other employee benefit plans made by or on behalf of [name of party B] after the date of the parties’ execution of this agreement, together with all increases in value of all such plans;

8.all interests in any trust in which [name of party B] has an interest, including but not limited to all corpus of the trusts, as well as all distributed and undistributed income from the trusts;

9.all recovery for personal injuries or property losses sustained by [name of party B] during the marriage, including any recovery for loss of earning capacity during the marriage; and

10.all property and property rights acquired by [name of party B] by gift, devise, or descent.

3.3No Commingling Intended

Neither party intends to commingle [his or her/his/her] respective separate property with the separate property of the other party, except when intentionally done in a joint finan­cial account, and neither party may claim an interest in any separate property of the other party as a result of such commingling, except as provided in this agreement.

3.4Certain Events Not Evidence of Community Property

The following events may not, under any circumstances, be considered evidence of any intention to create community property:

1.the filing of joint tax returns;

2.the taking of title to property, whether real or personal, in joint tenancy or in any other joint or common form;

3.the designation of one party by the other party as a beneficiary of [his or her/his/her] estate or as trustee or any other form of fiduciary;

4.the combining or mixing by one party of that party’s separate funds or property with the separate funds or property of the other party, including the pledging of joint or sepa­rate credit for the benefit of the other party’s separate estate;

5.any oral statement by either party;

6.any written statement by either party, other than a written agreement signed by both parties to convert separate property to community property pursuant to the Texas Family Code;

7.the payment from the funds of either party for any obligations, including but not limited to the payment of mortgages, interest, or real property taxes, repairs, or improvements on a separately or jointly held residence; and

8.the joint occupation of a separately owned residence, even though designated as a homestead.

The provisions of this section 3.4 are not comprehensive.

3.5No Legal Action against Separate Property of [name of party A]

In recognition of the fact that all property described on Schedule A of this agreement is stipulated and agreed to be the separate property of [name of party A], [name of party B] expressly disclaims any right to take any legal action against any of the entities listed on Schedule A in connection with any divorce proceeding or other legal action regarding this agreement. Specifically, [name of party B] agrees that [she/he] is not entitled to, and shall not seek, any temporary restraining order, injunctive relief, receivership, or other legal relief that would in any way restrict, inhibit, or affect the ability of any of the entities listed on Schedule A of this agreement from operating their business affairs as each entity deems appropriate, including each such entity’s right to sell, purchase, or alienate property, to transfer or pledge property, to incur or pay debt, to exercise stock options or warrants, to issue stock, to raise capital, to liquidate any assets, to enter into or change any contractual relationships, to make expenditures or incur any indebtedness, or to merge or in any way alter its business organiza­tion or form.

3.6No Legal Action against Separate Property of [name of party B]

In recognition of the fact that all property described on Schedule B of this agreement is stipulated and agreed to be the separate property of [name of party B], [name of party A] expressly disclaims any right to take any legal action against any of the entities listed on Schedule B in connection with any divorce proceeding or other legal action regarding this agreement. Specifically, [name of party A] agrees that [he/she] is not entitled to, and shall not seek, any temporary restraining order, injunctive relief, receivership, or other legal relief that would in any way restrict, inhibit, or affect the ability of any of the entities listed on Schedule B of this agreement from operating their business affairs as each entity deems appropriate, including each such entity’s right to sell, purchase, or alienate property, to transfer or pledge property, to incur or pay debt, to exercise stock options or warrants, to issue stock, to raise capital, to liquidate any assets, to enter into or change any contractual relationships, to make expenditures or incur any indebtedness, or to merge or in any way alter its business organiza­tion or form.

3.7Other Temporary Orders during Dissolution

If either party files a dissolution proceeding, the parties agree that during the pendency of the action neither party will request or seek to enforce any restraining order or injunction that could have the effect of inhibiting or prohibiting a party from making decisions concern­ing or disposing of [his or her/his/her] separate property. Further, neither party will have the right to the temporary use or possession of any separate property owned solely by the other party, either real or personal. Nothing in this section 3.7 affects the ability of either party to request or seek to enforce any order for the benefit of a child of both parties.

Article 4 

Income or Property Derived from Separate Property

4.1Income from [name of party A]’s Separate Property

Except as noted below, [name of party B] agrees that all income, changes, mutations, and increases in kind or in value of [name of party A]’s separate property following the execu­tion of this agreement and all property that [he/she] may hereafter acquire [include if commu­nity estate will continue to exist: as [his/her] separate property], including all property acquired as a result of the reinvestment of income from [his/her] separate property, will be the separate property of [name of party A]. Income from separate property includes but is not lim­ited to interest, rents, royalties, stocks, splits, and dividends. Except as noted below, [name of party B] forever releases, relinquishes, and renounces any interest in such income, changes, mutations, and increases in kind or in value derived from [name of party A]’s separate prop­erty, including all property acquired as a result of the reinvestment of income from [his/her] separate property, in consideration of [name of party A]’s reciprocal agreement and release, relinquishment, and renunciation. All future earnings and income arising from [name of party A]’s separate property will be the separate property of [name of party A] unless the parties agree in writing to the contrary.

All future earnings and income arising from [name of party A]’s separate property will be the community property of the parties after the date of the execution of this agreement.

Except as noted below, [name of party B] agrees that all income, changes, mutations, and increases in kind or in value of [name of party A]’s separate property following the execu­tion of this agreement and all property that [he/she] may hereafter acquire [include if commu­nity estate will continue to exist: as [his/her] separate property], including all property acquired as a result of the reinvestment of income from [his/her] separate property, will be the separate property of [name of party A]. Income from separate property includes but is not lim­ited to interest, rents, royalties, stocks, splits, and dividends. Except as noted below, [name of party B] forever releases, relinquishes, and renounces any interest in such income, changes, mutations, and increases in kind or in value derived from [name of party A]’s separate prop­erty, including all property acquired as a result of the reinvestment of income from [his/her] separate property, in consideration of [name of party A]’s reciprocal agreement and release, relinquishment, and renunciation. Notwithstanding the preceding language in this paragraph, future earnings and income arising from [name of party A]’s separate property as listed in Schedule F will be the community property of the parties after the date of the execution of this agreement.

4.2Income from [name of party B]’s Separate Property

Except as noted below, [name of party A] agrees that all income, changes, mutations, and increases in kind or in value of [name of party B]’s separate property following the execu­tion of this agreement and all property that [she/he] may hereafter acquire [include if commu­nity estate will continue to exist: as [her/his] separate property], including all property acquired as a result of the reinvestment of income from [her/his] separate property, will be the separate property of [name of party B]. Income from separate property includes but is not lim­ited to interest, rents, royalties, stocks, splits, and dividends. Except as noted below, [name of party A] forever releases, relinquishes, and renounces any interest in such income, changes, mutations, and increases in kind or in value derived from [name of party B]’s separate prop­erty, including all property acquired as a result of the reinvestment of income from [her/his] separate property, in consideration of [name of party B]’s reciprocal agreement and release, relinquishment, and renunciation. All future earnings and income arising from [name of party B]’s separate property will be the separate property of [name of party B] unless the parties agree in writing to the contrary.

All future earnings and income arising from [name of party B]’s separate property will be the community property of the parties after the date of the execution of this agreement.

Except as noted below, [name of party A] agrees that all income, changes, mutations, and increases in kind or in value of [name of party B]’s separate property following the execu­tion of this agreement and all property that [she/he] may hereafter acquire [include if commu­nity estate will continue to exist: as [her/his] separate property], including all property acquired as a result of the reinvestment of income from [her/his] separate property, will be the separate property of [name of party B]. Income from separate property includes but is not lim­ited to interest, rents, royalties, stocks, splits, and dividends. Except as noted below, [name of party A] forever releases, relinquishes, and renounces any interest in such income, changes, mutations, and increases in kind or in value derived from [name of party B]’s separate prop­erty, including all property acquired as a result of the reinvestment of income from [her/his] separate property, in consideration of [name of party B]’s reciprocal agreement and release, relinquishment, and renunciation. Notwithstanding the preceding language in this paragraph, future earnings and income arising from [name of party B]’s separate property as listed in Schedule G will be the community property of the parties after the date of the execution of this agreement.

4.3Waiver of Claims

Each party agrees that the property being partitioned or exchanged between the parties as their respective separate property will be free from all claims that the other party may have before the date of this agreement, as well as all claims that may arise following the execution of this agreement. Any money used for the benefit of the other party will be presumed to be a gift to the other party, as contrasted with a payment for which reimbursement or repayment is later expected, unless the parties agree otherwise in writing. This waiver applies during the lifetime of both parties, as well as on the death of either or both parties. This waiver extends to any rights, whether choate or inchoate, that may arise under the laws of Texas or any other jurisdiction. Each party further agrees that, by signing this agreement and accepting any bene­fit whatsoever under it, [he or she/he/she] is estopped from making any claim of any kind at any time to any separate property or the separate estate of the other party, except as may expressly be provided for in this agreement.

Article 5 

Liabilities

5.1Liabilities of [name of party A]

The liabilities and obligations described in Schedule C, which is attached to this agree­ment and made a part of it for all purposes, and all other liabilities and obligations of [name of party A] as of the date of the parties’ execution of this agreement that are not included in Schedule C are partitioned to [name of party A] as the sole and separate property liabilities and obligations of [name of party A] and must be satisfied and paid solely from [his/her] separate estate. [Name of party A] agrees to forever hold harmless, indemnify, and defend [name of party B] and [her/his] property from any claim arising from these liabilities and obligations.

Any taxes, interest, or penalties that [name of party A] may owe to any taxing authority, foreign or domestic, for years or taxable periods before the date of the parties’ execution of this agreement are the sole and separate property liabilities and obligations of [name of party A], to be satisfied and paid solely from [his/her] separate estate and from which [he/she] agrees to forever hold harmless, indemnify, and defend [name of party B] and [her/his] prop­erty from any claim.

5.2Liabilities of [name of party B]

The liabilities and obligations described in Schedule D, which is attached to this agree­ment and made a part of it for all purposes, and all other liabilities and obligations of [name of party B] as of the date of the parties’ execution of this agreement that are not included in Schedule D are partitioned to [name of party B] as the sole and separate property liabilities and obligations of [name of party B] and must be satisfied and paid solely from [her/his] separate estate. [Name of party B] agrees to forever hold harmless, indemnify, and defend [name of party A] and [his/her] property from any claim arising from these liabilities and obligations.

Any taxes, interest, or penalties that [name of party B] may owe to any taxing authority, foreign or domestic, for years or taxable periods before the date of the parties’ execution of this agreement are the sole and separate property liabilities and obligations of [name of party B], to be satisfied and paid solely from [her/his] separate estate and from which [she/he] agrees to forever hold harmless, indemnify, and defend [name of party A] and [his/her] prop­erty from any claim.

5.3Future Business Transactions of [name of party A]

To protect [name of party B]’s separate property from liability associated with any future business transactions conducted by [name of party A], excluding transactions conducted by [name of party A] on behalf of [his/her] employer, [name of party A] agrees to take all rea­sonable steps and perform all reasonable actions to ensure that all future business transactions in which [name of party A] is involved during the parties’ marriage are handled either through a separate-property entity of [name of party A] that exists now or through a new entity capital­ized with [name of party A]’s separate property in the future. [Name of party A] further agrees to take all steps and perform all actions necessary to prevent [name of party B]’s separate property from being an obligor, a guarantor, or in any way liable for any future business trans­actions in which [name of party A] participates.

5.4Future Business Transactions of [name of party B]

To protect [name of party A]’s separate property from liability associated with any future business transactions conducted by [name of party B], excluding transactions conducted by [name of party B] on behalf of [her/his] employer, [name of party B] agrees to take all rea­sonable steps and perform all reasonable actions to ensure that all future business transactions in which [name of party B] is involved during the parties’ marriage are handled either through a separate-property entity of [name of party B] that exists now or through a new entity capital­ized with [name of party B]’s separate property in the future. [Name of party B] further agrees to take all steps and perform all actions necessary to prevent [name of party A]’s separate property from being an obligor, a guarantor, or in any way liable for any future business trans­actions in which [name of party B] participates.

5.5Pending or Future Litigation

[Name of party A] agrees to indemnify and hold [name of party B] and [her/his] property harmless from all costs and liabilities arising from all pending and future litigation caused or alleged to have been caused solely by [name of party A]’s acts or omissions.

[Name of party B] agrees to indemnify and hold [name of party A] and [his/her] property harmless from all costs and liabilities arising from all pending and future litigation caused or alleged to have been caused solely by [name of party B]’s acts or omissions.

Article 6 

Management of Properties

6.1Management of Properties

Each party has the full, free, and unrestricted right to manage the separate property over which [he or she/he/she] has control under section 3.101 of the Texas Family Code or suc­ceeding provisions of similar import and nature, including without limitation the right to con­vey or encumber the property; to dispose of it by sale, gift, or otherwise; and to deal with it without taking into consideration any rights or interests of the other party. If the joinder of [name of party A] or [name of party B] (“joining party”) should be required by law in connec­tion with the execution of any document by the other party with respect to the separate prop­erty of the other party, on request and from time to time, the joining party must execute all such documents necessary to effect the desires of the other party, including gift tax returns, but without any personal liability of the joining party. Neither party has the authority to encumber or dispose of the other party’s separate property without the other party’s express written consent. Notwithstanding any of the provisions set forth in this section 6.1, the parties agree that any gift in excess of the annual gift tax exclusion that would be applied to either party’s unified lifetime credit must be consented to in writing by the parties before the making of the gift.

Article 7 

Future Credit Transactions

7.1Future Credit Transactions of Parties

If either party enters into a transaction wherein either party becomes obligated on any debt, and unless a contrary intent is specifically and expressly stated, the obligation must be satisfied by the party incurring the obligation or liability wholly from that party’s separate property, and that party must hold the other party and the other party’s property harmless from the obligation and indemnify the other party if the other party is ever required to satisfy the obligation. The assets, if any, acquired through any such credit transactions will be and remain the separate property of a party to the extent the party obligates [his or her/his/her] separate property for the credit extended in acquiring the assets or resulting in the acquisition of the assets. Similarly, any business failure of the parties or any bankruptcy, reorganization, com­position, arrangement, or other debtor/creditor action of or against a party will in no way affect the other party, and neither party is relying or will rely on the other party for any credit, accommodation, or indulgence in these regards.

Article 8 

Household and Personal Expenses

8.1Household and Personal Expenses

The parties may agree to maintain one or more joint bank accounts, which will be des­ignated as the “[specify] Household Account” or some similar name, and that the account will be used for the purposes described below. In that event, each party agrees to contribute [num­ber] dollars ($[amount]) per month. Except as otherwise specifically stated, the funds on deposit in the account will be used for the payment of the mortgage payment (principal and interest), rent, groceries, utilities, maintenance and repairs, and all other miscellaneous house­hold expenses (collectively called “living expenses”) that may arise following the execution of this agreement. The payment by one party of all or a majority of any living expenses will not create a right of reimbursement by the party paying the living expenses, affect the charac­ter of any property currently in existence or property that may be acquired in the future, or cre­ate an ownership interest in any property by a party that the party does not already have and does not acquire in the future by other means.

To the extent the parties elect to open and maintain one or more joint bank accounts, each party will have an undivided one-half interest in the funds on deposit in the account(s) as [his or her/his/her] separate property. Each party will have an undivided one-half interest in all assets acquired with any funds from a joint bank account as [his or her/his/her] separate prop­erty.

If either party dies, all funds remaining in any joint bank account(s) will be the sole and separate property of the surviving party.

Article 9 

Joint Acquisition of Assets

9.1Joint Acquisition of Assets

The parties have the option, but not the obligation, to acquire assets together in their joint names. If the parties jointly acquire assets following the execution of this agreement, they will each own an undivided interest in the jointly acquired assets as their respective sole and separate property in an amount equal to the percentage of their respective contributions toward the purchase of the assets. If the parties jointly acquire assets, and to the extent legal title to any or all of the assets can be perfected in their joint names, such as title to an automo­bile, boat, or real property, they will obtain title in their joint names. However, even though title to an asset acquired by the parties is held in their joint names, the percentage of owner­ship of such an asset will be controlled by the provisions of this article, and the taking of title in their joint names may not be interpreted to mean that each party has an undivided 50 per­cent ownership interest in jointly acquired assets. If legal title cannot be obtained in the par­ties’ joint names with respect to a jointly acquired asset, the parties agree to execute a memorandum stipulating that the asset was jointly acquired by the parties. Jointly acquired property may not be deemed to be community property but instead will constitute each party’s separate property in proportion to that party’s contribution to the purchase price; provided, however, that if there are no records verifying the amount of each party’s contribution toward the purchase of an asset, each party will own an undivided 50 percent interest in the asset. [Include if applicable: If the evidence of title reflects both parties’ names, the parties will own that property as joint tenants with right of survivorship.]

Article 10 

Taxes

10.1Tax Liability

The parties agree to execute separate income tax returns following the execution of this agreement unless they agree that it is to their mutual advantage to file a joint tax return for any year.

For all tax years following the execution of this agreement, [name of party A] must report all of [his/her] separate-property income. In calculating [name of party A]’s separate-property tax liability, [he/she] is entitled to use all withholding, estimated tax pay­ments, exemptions, deductions, charitable contributions, and tax credits (sometimes collec­tively called “adjustments”) that are solely attributable to [his/her] separate-property estate and income. [Name of party A] is entitled to use all current and prior year carryforwards (as well as all carryforwards arising in the future), including but not limited to net operating losses, passive losses, suspended losses, long-term capital losses, and short-term capital losses (sometimes collectively called “carryforwards”) that are strictly associated with [his/her] separate-property estate and income. The income tax liability arising from [name of party A]’s separate property is the sole liability of [name of party A], who agrees to fully discharge that tax liability, including penalties and interest, if any, out of [his/her] separate-property estate. [Name of party A] further agrees to indemnify and hold [name of party B] and [her/his] sepa­rate property harmless from (and [name of party A] releases [name of party B] and [her/his] separate property from) all such tax liability, including penalties and interest, if any, together with all tax liens of every kind and character that might hereafter arise from the filing of [his/her] separate return or the failure to file necessary or proper returns or to pay the required taxes with respect to the separate-property taxable income of [name of party A].

For all tax years following the execution of this agreement, [name of party B] must report all of [her/his] separate-property income. In calculating [name of party B]’s separate-property tax liability, [she/he] is entitled to use all withholding, estimated tax pay­ments, exemptions, deductions, charitable contributions, and tax credits (sometimes collec­tively called “adjustments”) that are solely attributable to [her/his] separate-property estate and income. [Name of party B] is entitled to use all current and prior year carryforwards (as well as all carryforwards arising in the future), including but not limited to net operating losses, passive losses, suspended losses, long-term capital losses, and short-term capital losses (sometimes collectively called “carryforwards”) that are strictly associated with [her/his] separate-property estate and income. The income tax liability arising from [name of party B]’s separate property is the sole liability of [name of party B], who agrees to fully discharge that tax liability, including penalties and interest, if any, out of [her/his] separate-property estate. [Name of party B] further agrees to indemnify and hold [name of party A] and [his/her] sepa­rate property harmless from (and [name of party B] releases [name of party A] and [his/her] separate property from) all such tax liability, including penalties and interest, if any, together with all tax liens of every kind and character that might hereafter arise from the filing of [her/his] separate tax return or the failure to file necessary or proper returns or to pay the required taxes with respect to the separate-property taxable income of [name of party B].

Each party is solely obligated to pay, from [his or her/his/her] other separate-property estate, all estimated tax payments, if any, associated with [his or her/his/her] separate-property tax liability that are required to be paid for all taxable years that the parties are married.

All tax refunds that may be received in the future are the sole and separate property of the party whose separate-property estate generated the refund.

10.2Joint Tax Returns

Notwithstanding the provisions of section 10.1 above and the intent and desire of the parties to file separate tax returns and to retain the wholly separate character of their respec­tive separate properties, the parties acknowledge that the Internal Revenue Code, as amended, and the regulations thereunder, and similar codes and regulations of other states in certain instances provide, or may provide in the future, savings in taxes for married couples filing joint returns. If that is the case, the parties may file joint returns, but their election to file joint tax returns for any year of their marriage does not constitute a waiver of any provision of this agreement. [Include if applicable: At the option of either party, a party may request individual calculations to determine the pro rata share of any tax liability or tax refund as between each party’s separate-property estate and the community-property estate in accordance with section 10.1 above.]

Article 11 

Dissolution of Marriage by Court Order

11.1Property to [name of party A]

If either party files any proceeding for divorce, annulment, or to declare their marriage void (a “dissolution proceeding”), [name of party B] agrees that [name of party A] will be awarded all [his/her] separate property, including all property described in this agreement as being partitioned to [him/her] as [his/her] separate property. [Name of party B] agrees to release all interests or claims [she/he] may have in [name of party A]’s separate property. [Name of party B] further agrees to execute any documents necessary to set aside and confirm to [name of party A] [his/her] separate property and to release any and all claims that [name of party B] may have in and to [name of party A]’s separate property.

11.2Property to [name of party B]

In the event of a dissolution proceeding between the parties, [name of party A] agrees that [name of party B] will be awarded all [her/his] separate property, including all property described in this agreement as being partitioned to [her/him] as [her/his] separate property. [Name of party A] agrees to release all interests or claims [he/she] may have in and to [name of party B]’s separate property. [Name of party A] further agrees to execute any documents neces­sary to set aside and confirm to [name of party B] [her/his] separate property and to release any and all claims [name of party A] may have in and to [name of party B]’s separate property.

11.3Liabilities to [name of party A]

In the event of a dissolution proceeding between the parties, [name of party A] agrees to be responsible for and pay all liabilities and obligations associated with [his/her] separate property, including all property described in this agreement as being partitioned to [him/her] as [his/her] separate property. [Name of party A] further agrees to indemnify and hold [name of party B] and [her/his] property harmless from all liabilities associated with [name of party A]’s separate property.

11.4Liabilities to [name of party B]

In the event of a dissolution proceeding between the parties, [name of party B] agrees to be responsible for and pay all liabilities and obligations associated with [her/his] separate property, including all property described in this agreement as being partitioned to [her/him] as [her/his] separate property. [Name of party B] further agrees to indemnify and hold [name of party A] and [his/her] property harmless from all liabilities associated with [name of party B]’s separate property.

11.5Waiver of Temporary Spousal Support, Spousal Maintenance, and Alimony

As a result of the partitioning of assets between the parties in this agreement, both par­ties will own separate-property assets, and neither party will require the other party to pay temporary spousal support, spousal maintenance, or alimony of any kind in the event of a dis­solution proceeding. Each party waives any right that may exist under law to seek or obtain temporary spousal support, spousal maintenance, or alimony from the other party. If a court of competent jurisdiction orders either party to pay to the other party, or to a third party on behalf of the other party, temporary spousal support, spousal maintenance, or alimony of any kind during the pendency of a dissolution proceeding, that temporary spousal support, spousal maintenance, or alimony paid by one party to the other in connection with such a dissolution proceeding must be reimbursed to the party paying the temporary spousal support, spousal maintenance, or alimony within five days after receipt by the receiving party. Without limit­ing the generality of the foregoing, thus, for example, if $1,000 in temporary alimony is paid by [name of party A] to [name of party B] during the pendency of a dissolution proceeding, the sum of $1,000 must be reimbursed to [name of party A] by [name of party B] within five days after [name of party B] receives the $1,000 from [name of party A].

The parties agree, in the event the receiving party fails to reimburse the paying party as required above, that the party paying the temporary spousal support, spousal maintenance, or alimony shall be allowed a dollar-for-dollar offset against all future temporary spousal sup­port, spousal maintenance, or alimony payments to be paid by the paying party to the receiv­ing party [include if applicable: or against other existing financial obligations on behalf of the community estate or on behalf of the receiving party]. In the event of a failure by the receiving party to reimburse any temporary spousal support, spousal maintenance, or alimony payment to the paying party within five days as required above, the paying party shall notify the receiv­ing party of the paying party’s intent to exercise [his or her/his/her] right to offset all amounts unreimbursed at that point against all subsequent temporary spousal support, spousal mainte­nance, or alimony payments to be paid by the paying party [include if applicable: or against other existing financial obligations on behalf of the community estate or on behalf of the receiving party]. The paying party shall also notify the receiving party exactly which financial obligations the unreimbursed payments will be offset against. On receipt of that notice from the paying party, the receiving party shall be discharged from the obligation of reimbursement to the extent of the amount of the offset.

11.6Waiver of Right to Occupy Separate-Property Residence

In the event of the filing of a dissolution proceeding, and in the event the parties’ mari­tal homestead is owned by one party as [his or her/his/her] separate property, the nonowner spouse agrees to waive all right [he or she/he/she] may have to continue residing in the marital homestead, both during the pendency of the dissolution proceeding and following the dissolu­tion of the parties’ marriage. In that event, the nonowner spouse agrees to vacate the marital homestead no later than [days] days following [his or her/his/her] receipt of notice of the fil­ing of the dissolution proceeding.

11.7Release and Waiver

If either party files a dissolution proceeding, neither party may seek a division of the property of either or both parties in a manner contrary to the terms of this agreement.

Each party relinquishes, disclaims, and waives all rights, title, and interest that [he or she/he/she] may have to seek a division of property and liabilities in a dissolution proceeding contrary to what is provided for in this agreement.

11.8Division of Community Estate

If the parties’ marriage is dissolved by court order, all community property acquired during the marriage, if any community property arises despite the parties’ intent to the con­trary, must be equally divided between the parties according to the existing fair market value of each asset. If the parties cannot agree on the fair market value, the fair market value will be determined by appraisals. The division of the community property may be made by distribut­ing the entire interest of certain properties to one party, with an equalizing distribution of the properties or funds to the other party.

11.9Attorney’s Fees

During the pendency of any dissolution proceeding, neither party may be required to pay interim attorney’s fees, costs, or other expenses to the other party or the other party’s attorney. Each party further agrees to pay [his or her/his/her] own attorney’s fees, costs, and other expenses on final hearing of any dissolution proceeding.

Article 12 

Dissolution of Marriage by Death

12.1[Name of party A]’s Acceptance of [name of party B]’s Will and Waivers to Be Signed on Death of [name of party B]

[Name of party A] agrees to accept the provisions of any last will and testament and cod­icils that may be in effect at the time of [name of party B]’s death in full discharge, settlement, and satisfaction of any and all right, title, and interest that [he/she], as [name of party B]’s spouse, might otherwise acquire in [her/his] estate and property.

Unless designated as a named beneficiary under a written instrument, [name of party A] waives and releases to [name of party B], [her/his] executors, administrators, or assigns any and all rights of election given to [him/her] as the spouse of [name of party B], or through [him/her] to [his/her] heirs, to take against [her/his] last will and testament under any statutes, now or hereafter in force, in Texas or any other state or foreign nation in which [name of party B] may have property at the time of [her/his] death.

If the marriage of the parties is dissolved by the death of [name of party B], [name of party A] agrees and hereby binds [his/her] personal representatives and heirs to agree to release and convey to [name of party B]’s estate any interest [he/she] may then have or claim to have in the separate property of [name of party B], including any property described in this agreement as being the separate property of [name of party B] or as belonging to [name of party B]’s separate estate, other than any benefit conferred on [name of party A] in this agree­ment. [Name of party A] agrees to execute on request all instruments of release or conveyance that are necessary to give effect to this agreement. [Name of party B] hereby binds [her/his] personal representatives and heirs to release and convey to [name of party A] all of the interest, if any, that [name of party B] or [her/his] estate may have in the then separate property of [name of party A] and in all the property described in this agreement as being the separate property of [name of party A] or as belonging to [name of party A]’s separate estate unless oth­erwise provided for in this agreement.

12.2[Name of party B]’s Acceptance of [name of party A]’s Will and Waivers to Be Signed on Death of [name of party A]

[Name of party B] agrees to accept the provisions of any last will and testament and cod­icils that may be in effect at the time of [name of party A]’s death in full discharge, settlement, and satisfaction of any and all right, title, and interest that [she/he], as [name of party A]’s spouse, might otherwise acquire in [his/her] estate and property.

Unless designated as a named beneficiary under a written instrument, [name of party B] waives and releases to [name of party A], [his/her] executors, administrators, or assigns any and all rights of election given to [her/him] as the spouse of [name of party A], or through [her/him] to [her/his] heirs, to take against [his/her] last will and testament under any statutes, now or hereafter in force, in Texas or any other state or foreign nation in which [name of party A] may have property at the time of [his/her] death.

If the marriage of the parties is dissolved by the death of [name of party A], [name of party B] agrees and hereby binds [her/his] personal representatives and heirs to agree to release and convey to [name of party A]’s estate any interest [she/he] may then have or claim to have in the separate property of [name of party A], including any property described in this agreement as being the separate property of [name of party A] or as belonging to [name of party A]’s separate estate, other than any benefit conferred on [name of party B] in this agree­ment. [Name of party B] agrees to execute on request all instruments of release or conveyance that are necessary to give effect to this agreement. [Name of party A] hereby binds [his/her] personal representatives and heirs to release and convey to [name of party B] all of the interest, if any, that [name of party A] or [his/her] estate may have in the then separate property of [name of party B] and in all the property described in this agreement as being the separate property of [name of party B] or as belonging to [name of party B]’s separate estate unless oth­erwise provided for in this agreement.

12.3Family Allowance to Surviving Spouse

The parties agree that the surviving spouse will have the right to petition the court for the payment of a family allowance for the support of the surviving spouse following the death of a party, in accordance with the provisions of the Texas Estates Code.

The parties agree that the surviving spouse will not have the right to petition the court for the payment of a family allowance for the support of the surviving spouse following the death of a party. In that regard, the surviving spouse hereby waives and releases to the deceased party and [his or her/his/her] executors, administrators, or assigns any and all rights to a family allowance now or hereafter in force in Texas or any other state or foreign jurisdic­tion.

12.4Life Estate in Homestead

The parties agree that the surviving spouse will have a life estate in the homestead of the parties if, at the time of a party’s death, the parties are still married to each other and there is not pending any dissolution proceeding or a suit for declaratory judgment to determine the validity of all or any portion of this agreement (a “declaratory judgment proceeding”). The parties further agree that, if the death of a party occurs at a time when a dissolution proceeding or a declaratory judgment proceeding is pending with respect to the parties’ marriage, the sur­viving spouse irrevocably waives any right [he or she/he/she] might otherwise then have under the provisions of any “homestead” rights, now or hereafter in force under the constitu­tion or the laws of Texas or any other state or foreign nation, as well as all rights [he or she/he/she] might have under the provisions of the Texas Estates Code, as amended, relating to the right to have a life estate in the homestead of the parties.

In the event of a party’s death, the surviving party irrevocably waives any right [he or she/he/she] might otherwise then have under the provisions of any “homestead” rights, now or hereafter in force under the constitution or the laws of Texas or any other state or foreign nation, as well as all rights [he or she/he/she] might have under the provisions of the Texas Estates Code, as amended, relating to the right to have a life estate in the homestead of the parties.

Article 13 

Retirement Benefits

13.1Waiver of Retirement Benefits by [name of party A]

Unless named by a written instrument as a beneficiary by [name of party B], [name of party A] waives all right, title, and interest, if any, that [he/she] may acquire by virtue of [his/her] marriage to [name of party B] in all of [name of party B]’s retirement benefits and disabil­ity benefits, whether lump sum or installment, any profit-sharing interests, and any other employee benefits arising out of [name of party B]’s past, present, or future employment. [Name of party A] acknowledges that this waiver includes all rights that [he/she] may have to receive benefits or payments from any 401(k) plan, SEP account, individual retirement account, profit-sharing plan, or any other type of employee benefit plan that [name of party B] has or may have in the future. [Name of party A] further waives all rights [he/she] may have to participate in any decisions concerning the designation of beneficiaries or election of benefits or any other types of decisions to be made by [name of party B] under the terms of [her/his] current or future employee benefit plan or plans. [Name of party A] agrees to consent in writ­ing to, and accept, [name of party B]’s designation of beneficiary with respect to the plan or plans and to sign any spousal consent that might be requested or required by [name of party B] at any time with respect to any such plan or plans, even if the consent does not provide for the payment of survivor benefits on [name of party B]’s death.

13.2Waiver of Retirement Benefits by [name of party B]

Unless named by a written instrument as a beneficiary by [name of party A], [name of party B] waives all right, title, and interest, if any, that [she/he] may acquire by virtue of [her/his] marriage to [name of party A] in all of [name of party A]’s retirement benefits and disabil­ity benefits, whether lump sum or installment, any profit-sharing interests, and any other employee benefits arising out of [name of party A]’s past, present, or future employment. [Name of party B] acknowledges that this waiver includes all rights that [she/he] may have to receive benefits or payments from any 401(k) plan, SEP account, individual retirement account, profit-sharing plan, or any other type of employee benefit plan that [name of party A] has or may have in the future. [Name of party B] further waives all rights [she/he] may have to participate in any decisions concerning the designation of beneficiaries or election of benefits or any other types of decisions to be made by [name of party A] under the terms of [his/her] current or future employee benefit plan or plans. [Name of party B] agrees to consent in writ­ing to, and accept, [name of party A]’s designation of beneficiary with respect to the plan or plans and to sign any spousal consent that might be requested or required by [name of party A] at any time with respect to any such plan or plans, even if the consent does not provide for the payment of survivor benefits on [name of party A]’s death.

Article 14 

Gifts

14.1Gifts

The parties acknowledge that during the remainder of their marriage, each party may, from time to time, make gifts of property to the other party. These interspousal gifts may be made on a special occasion, such as a birthday or anniversary, or on any other occasion a party may choose. The parties recognize that frequently claims of “gifts” are alleged in the context of a dissolution proceeding. To remove any uncertainty about the issue of interspousal gifts, the parties agree that:

1.Gifts of wearing apparel, jewelry, and athletic equipment may be established by parol testimony if the item or property is customarily used and enjoyed exclusively by the party claiming it as a gift to [him or her/him/her];

2.Gifts of other items of personal property not covered by item 1. above, such as fur­nishings, artwork, cash, and collections, must be established by clear and convincing evi­dence; and

3.Any property that is held by title, as in a deed, in a certificate, or by account name, may not be effectively transferred to the party claiming it as a gift unless, in fact, the deed, certificate, or account is transferred by name to the party claiming the gift.

14.2Gift Tax Consequences

Each party retains the right to make gifts of [his or her/his/her] separate property with­out regard to blood or other relationship of the donee. Conditional on any such gift being made from the separate property of a party, the party making the gift may deem the other party as the donor of one-half of the gift for federal tax purposes, if allowable under the relevant law, but without personal liability to the deemed donor. If the deemed donor is held responsi­ble for the payment of federal gift tax, the actual donor must indemnify and hold harmless the deemed donor and [his or her/his/her] property from the liability and must reimburse the deemed donor the amount of the tax, including all penalties and interest, if any, within ten days after the deemed donor has paid any such taxes, penalties, or interest. Notwithstanding any of the provisions set forth in this section 14.2 to the contrary, the parties agree that any gift in excess of the annual gift tax exclusion that would be applied to either party’s unified lifetime credit must be consented to in writing by the parties before the making of the gift.

Article 15 

Independent Conveyances or Bequests

15.1Independent Conveyances or Bequests

If either party voluntarily conveys to the other party an interest in [his or her/his/her] separate property that is declared by law, or by this agreement, to be the separate property of one party, either by will, survivorship agreement, or instrument of conveyance or by docu­ment of title signed by the transferring party, the provisions of that will, survivorship agree­ment, instrument of conveyance, or document of title control over the provisions of this agreement to the extent of any conflict between the two documents regarding such property other than property that is personal to the other party. Absent such a will, survivorship agree­ment, instrument of conveyance, or document of title expressly conveying such property, all properties remain in the ownership of the party owning or designated as owning the property as [his or her/his/her] separate property.

Nothing in this agreement may be construed as prohibiting one party from giving prop­erty to the other party by will, survivorship agreement, instrument of conveyance, document of title, or other written instrument between the parties.

Article 16 

General Agreements

16.1General Agreements

Except as specifically set forth in this agreement to the contrary, the parties agree to the following:

1.That the property described or created in this agreement as being the separate property of or belonging to the separate estate of each party is free from any claim of the other party that may arise during the remainder of the parties’ marriage.

2.That any money used for the benefit of the other party is presumed to be a gift to the other party, as contrasted with a payment for which reimbursement or repayment is later expected, unless the parties agree otherwise in writing.

3.That this agreement applies during the lifetime of both parties, including on disso­lution of their marriage by court order, as well as on the death of either or both parties.

4.That this agreement extends to any rights, whether choate or inchoate, that may arise under the laws of any jurisdiction.

Article 17 

Reimbursement

17.1No Reimbursement Claims

[Name of party A] waives the right to assert any claim for reimbursement that [he/she] might presently or in the future have on behalf of or against the community estate. [Name of party A] further waives the right to assert any claim for reimbursement that [he/she] might presently or in the future have against the separate estate of [name of party B].

[Name of party B] waives the right to assert any claim for reimbursement that [she/he] might presently or in the future have on behalf of or against the community estate. [Name of party B] further waives the right to assert any claim for reimbursement that [she/he] might presently or in the future have against the separate estate of [name of party A].

Article 18 

Undisclosed Property

18.1Undisclosed Property

All community property not listed in any schedule attached to this agreement is owned by the parties as equal cotenants with right of survivorship. Each party hereby grants, con­veys, and assigns to the other party an undivided one-half interest in any such unlisted com­munity property owned in the name of the granting party.

Article 19 

Arbitration

19.1Arbitration

The provisions for binding arbitration must be in accordance with Texas arbitration laws, including but not limited to sections 6.601 and 153.0071 of the Texas Family Code.

The parties agree to submit to binding arbitration any dispute or controversy regarding the validity, interpretation, or enforceability of this agreement, as well as all issues involving its enforcement in connection with a dissolution proceeding between the parties. Each party expressly waives any right to trial by a court or trial by a jury. If a dissolution proceeding or declaratory judgment proceeding is filed in Texas, the arbitrator appointed under this agree­ment will simultaneously be designated as special master under the Texas Rules of Civil Pro­cedure, and the parties agree to jointly apply to the court for any orders that are necessary to vest the arbitrator with all powers and authority of a special master under the rules.

The parties agree to appoint one arbitrator, whose decisions will be binding in all respects. Any arbitrator appointed by the parties must be an attorney who has undergone arbi­tration training conducted by the American Bar Association or the American Academy of Matrimonial Lawyers and is in good standing with the State Bar of Texas. [Include if applica­ble: The arbitrator must also be board certified in family law by the Texas Board of Legal Specialization.] The first party requesting arbitration must designate the name of an arbitrator in the request. The other party must then designate the name of an arbitrator. If the parties can­not agree on an arbitrator within fourteen days after either party’s written request for arbitra­tion, the two designees must select a qualified arbitrator, who will be designated the sole arbitrator of the dispute. If the parties cannot agree on the ground rules and procedures to be followed during the arbitration proceedings, the arbitrator shall have the sole authority to establish the ground rules and procedures to be followed during the arbitration proceeding. The parties agree to attend the arbitration on the date and at the time and place set by the arbi­trator. The cost of arbitration must be borne as the arbitrator directs. The award of the arbitra­tor will be binding and conclusive on the parties, and a judgment setting forth the arbitration award may be entered in any court of competent jurisdiction.

Article 20 

General Provisions

20.1Effective Date

This agreement takes effect when it is executed by both parties and will remain in effect during the remainder of the parties’ marriage and thereafter until it is fully performed, amended, or revoked, even when the parties’ marriage is dissolved by death or otherwise.

20.2Execution of Documents

Each party agrees to cooperate fully with the other in performing all acts and in execut­ing, acknowledging, and delivering all instruments and documents required to accomplish the intent of this agreement, including but not limited to deeds, assignments, and promissory notes. Each party agrees to execute all documents required to accomplish the intent of this agreement within fourteen days after the documents are presented to the party for execution.

20.3Incorporation of Schedules

All schedules and other instruments referred to in this agreement are incorporated into this agreement as completely as if they were copied verbatim in the body of it.

20.4Presumption of Separate Property

Any property held in [name of party A]’s individual name is presumed to be the sepa­rate property of [name of party A]. Any property held in [name of party B]’s individual name is presumed to be the separate property of [name of party B]. Any property or liability inadver­tently omitted from the schedules attached to this agreement is the separate property or liabil­ity of the party to whom it belongs or by whom it was incurred.

20.5Enforceability

This agreement may be enforced by suit in law or equity by either of the parties or by their heirs, executors, attorneys, or assigns. Each party agrees that by signing this agreement and accepting any benefit whatsoever under it, [he or she/he/she] is estopped and barred from making any claim of any kind at any time to any separate property or the separate estate of the other party or to any property described in this agreement as being the separate property of the other party. Each party waives [his or her/his/her] right to make claims to any separate prop­erty of the other party or to any property designated as belonging to the separate estate of the other party, whether the property is acquired before or after this agreement is signed.

20.6Successors

This agreement binds and inures to the benefit of the parties and their respective lega­tees, devisees, heirs, executors, legal and personal representatives, assigns, transferees, and successors in interest.

20.7Amendment or Modification

This agreement may be waived, abandoned, modified, amended, discharged, or termi­nated only by a written instrument signed by both parties that specifically identifies the waiver, abandonment, modification, amendment, discharge, or termination.

20.8Attorney’s Fees and Expenses for Enforcement

If either party brings an action or other proceeding to enforce this agreement or to enforce any judgment, decree, or order made by a court in connection with this agreement, the prevailing party will be entitled to recover reasonable attorney’s fees and other necessary costs from the other party. If either party files a declaratory judgment proceeding to determine the enforceability of this agreement, neither party will be entitled to an award of attorney’s fees unless a party successfully challenges the validity of this agreement, in which event the court will be authorized to award attorney’s fees. If either party seeks to invalidate some or all of this agreement or seeks to recover property in a manner at variance with this agreement, the successful party will be entitled to recover reasonable attorney’s fees and other necessary costs from the other party.

20.9Exclusive Remedy for Nonmonetary Breach

Except as expressly provided otherwise in this agreement, the exclusive judicial rem­edy of either party against the other for failure to perform any nonmonetary duty or obligation under any provision of this agreement is judicial enforcement by judgment for specific perfor­mance or mandatory injunction and writ of execution to compel performance, plus reasonable attorney’s fees. Neither party is entitled to recover any damages, actual or consequential, for any nonmonetary breach. No failure of either party to perform any nonmonetary duty or obli­gation under this agreement diminishes or impairs the full effectiveness of its provisions.

20.10 Waiver of Breach or Term

The waiver of any breach of any provision of this agreement does not waive any other breach of that or any other provision. Waiver of any term of this agreement may be accom­plished only concerning future performance and only by a written instrument signed by both parties expressly stating the provisions waived.

20.11 Partial Invalidity

If any provision of this agreement is for any reason found to be unenforceable, all other provisions nonetheless remain enforceable.

20.12 Assignment Prohibited

This agreement is personal to the parties, and neither party may assign or delegate any of [his or her/his/her] rights or obligations under it.

20.13 Entire Agreement

This instrument contains the parties’ entire agreement on the subject it purports to cover. This agreement replaces any earlier agreements or understandings, whether written or oral, and there are no contemporaneous written or oral agreements that are not fully expressed in it.

20.14 Titles and Captions

Article headings, titles, and captions contained in this agreement are merely for refer­ence and do not define, limit, extend, or describe the scope of this agreement or any provision.

20.15 No Construction against Draftsman

No provision of this agreement may be interpreted for or against any party because the party or the party’s legal representative drafted the provision.

20.16 Representation

The attorney representing [name of party A] is [name]. The attorney representing [name of party B] is [name]. [Name of party A] has not received any legal, financial, or other kind of advice from [name of party B] or from [her/his] attorney, [name], in connection with the advisability or nonadvisability of entering into this agreement. [Name of party B] has not received any legal, financial, or other kind of advice from [name of party A] or from [his/her] attorney, [name], in connection with the advisability or nonadvisability of entering into this agreement. [Name of party A] is relying on [his/her] own judgment and the advice of [his/her] attorney in entering into this agreement. [Name of party B] is relying on [her/his] own judg­ment and the advice of [her/his] attorney in entering into this agreement.

[[Name of party A]/[name of party B]] acknowledges that [he/she] has had the opportu­nity to retain independent counsel to represent [him/her] in connection with this agreement and that [he/she] has been encouraged by [[name of party B]/[name of party A]] and others to obtain an attorney of [his/her] choice to represent [him/her], but that [he/she] has specifically declined to do so and is relying on [his/her] own judgment in entering into this agreement. Notwithstanding the fact that [[name of party A]/[name of party B]] has represented [himself/herself] in this matter, [[name of party A]/[name of party B]] reaffirms the warranties made by [him/her] in this agreement and further represents and warrants that [he/she] has the requisite knowledge, skill, and training to fully understand the consequences of [his/her] execution of this agreement. Finally, [[name of party A]/[name of party B]] represents and warrants that [he/she] has not received any legal, financial, or other kind of advice from [[name of party B]/[name of party A]] or [name] or any other attorney with the law firm of [name] in connection with the advisability or nonadvisability of entering into this agreement.

20.17 Nondisqualification

If any dispute arises out of this agreement, whether by arbitration or litigation, each party waives any claim of disqualification against representation of the other party by the attorneys who participated in negotiating and drafting this agreement.

20.18 Place of Performance; Governing Law; Application

All rights, duties, and obligations under this agreement are payable and enforceable in [county] County, Texas.

Texas law in effect as of the date this agreement is signed governs the construction, interpretation, and enforcement of this agreement to the maximum extent permitted by law.

The parties expressly intend and agree that this agreement applies to and governs all real and personal property, wherever situated, owned by either party at the time this agree­ment is signed or acquired by either party thereafter, regardless of any change of domicile of the parties or the location of the real estate. If one or both of the parties ever becomes domi­ciled in a jurisdiction other than Texas, the status of all property thereafter acquired by that party must be controlled to the maximum extent by the terms of this agreement interpreted under Texas law in effect when this agreement is signed. The desire of the parties that each preserve [his or her/his/her] separate property or separate estate under Texas law and keep it free from the claims of the other party corresponds to their desire that each party should have and hold the property free from the claims of the other party under the laws of all other juris­dictions, even if the other jurisdictions do not recognize community property but instead speak of “marital property” and “nonmarital property” or like terms. For any property of either party whose ownership is not controlled by the marital property laws of Texas, when this agreement speaks of property as being the separate property of a party, reference is made to property acquired in such a manner that it would meet the definition of separate property under the Texas Constitution or the Texas Family Code, as amended.

20.19 Suits Affecting the Parent-Child Relationship

Nothing in this agreement affects either party’s rights in any suit affecting the parent-child relationship.

20.20 Multiple Originals

This agreement is executed in multiple originals. This agreement is signed after the execution of the Waiver of Disclosure of Financial Information.

Article 21 

Representations and Warranties

Warning

Each party to this agreement understands that by signing this document [he or she/he/she] is permanently surrendering rights and claims [he or she/he/she] would otherwise have under Texas law and under the law of other jurisdic­tions.

21.1Representations and Warranties of [name of party A]

My name is [name of party A]. I represent and warrant that:

1.I have carefully read each and every page of this agreement [include if applicable: and all schedules attached or referred to, in their entirety].

2.I am fully and completely informed by my attorney about the law relating to the subject matter of this agreement and about the spousal rights and liabilities of both parties.

3.I am entering into this agreement voluntarily [include if applicable: after receiving the advice of independent counsel].

4.I have given careful and mature thought to the making of this agreement.

5.I fully and completely understand each provision of this agreement, concerning both the subject matter and the legal effect. I further acknowledge that this agreement was not procured by fraud, duress, or overreaching.

6.I have investigated the property and financial obligations of [name of party B] suf­ficiently to satisfy any questions I have in that regard, and I expressly waive any right to dis­closure of the property and financial obligations of [name of party B] beyond the disclosures provided.

7.I am not relying on any fiduciary obligations owed by one party to the other or on any duty of disclosure founded on a confidential or other relationship between the parties. Furthermore, I am not relying on any legal or accounting advice or representation of fact or law provided by [name of party B] or anyone acting on [her/his] behalf.

8.I fully understand that, by signing this agreement and accepting any benefit what­soever under it, I will be estopped from making any claim of any kind at any time to any sep­arate property or the separate estate of [name of party B], except as expressly provided for in this agreement.

9.I fully understand that by executing this agreement I may be adversely affecting my inheritance rights and property [include if applicable: and that I am permanently surrender­ing rights to income and property I would otherwise have under Texas law].

10.I am executing this agreement with intent to be bound fully by all its terms.

   
[Name of party A]

21.2Representations and Warranties of [name of party B]

My name is [name of party B]. I represent and warrant that:

1.I have carefully read each and every page of this agreement [include if applicable: and all schedules attached or referred to, in their entirety].

2.I am fully and completely informed by my attorney about the law relating to the subject matter of this agreement and about the spousal rights and liabilities of both parties.

3.I am entering into this agreement voluntarily [include if applicable: after receiving the advice of independent counsel].

4.I have given careful and mature thought to the making of this agreement.

5.I fully and completely understand each provision of this agreement, concerning both the subject matter and the legal effect. I further acknowledge that this agreement was not procured by fraud, duress, or overreaching.

6.I have investigated the property and financial obligations of [name of party A] suf­ficiently to satisfy any questions I have in that regard, and I expressly waive any right to dis­closure of the property and financial obligations of [name of party A] beyond the disclosures provided.

7.I am not relying on any fiduciary obligations owed by one party to the other or on any duty of disclosure founded on a confidential or other relationship between the parties. Furthermore, I am not relying on any legal or accounting advice or representation of fact or law provided by [name of party A] or anyone acting on [his/her] behalf.

8.I fully understand that, by signing this agreement and accepting any benefit what­soever under it, I will be estopped from making any claim of any kind at any time to any sep­arate property or the separate estate of [name of party A], except as expressly provided for in this agreement.

9.I fully understand that by executing this agreement I may be adversely affecting my inheritance rights and property [include if applicable: and that I am permanently surrender­ing rights to income and property I would otherwise have under Texas law].

10.I am executing this agreement with intent to be bound fully by all its terms.

   
[Name of party B]

EXECUTED in multiple originals on the dates and at the times of the acknowledg­ments shown below.

State of Texas)

County of)

This instrument was acknowledged before me at ____________ __.m. on ____________ by [name of party A].

   
Notary Public, State of Texas

I, the notary public whose signature appears above, certify that I am not an attorney representing either party to this agreement.

   

State of Texas)

County of)

This instrument was acknowledged before me at ____________ __.m. on __________________ by [name of party B].

   
Notary Public, State of Texas

I, the notary public whose signature appears above, certify that I am not an attorney representing either party to this agreement.