Hello

I am currently in a situation where my sisters and I own a 25% interest in a multi-family property down in South Padre and we are looking to sell this interest to a family member. Is there a particular form or contract I should use to document this transaction. '

thanks in advance

With partial interests, I say it's best to always use an attorney. It will only cost a few hundred bucks and it will be done right.

Sorry, to answer more of your question you will have to use a deed to transfer your interest to them. That deed needs to be drawn up by an attorney and filed of record.

Thanks bitter old man

A warranty deed has been drafted and is pending our signature. The 25% interest that I represent is requesting that I have the buyer acknowledge the selling price with a contract prior to signing the deed. I've looked on the Texas Real Estate Commissions website for a standard form / template but I think those are specific to the real estate brokers.

Thanks for the help

Anyone can use the TREC forms. You can probably just fill it out with as "Undivided 25% interest in (property description)...."

Check boxes that apply to you and skip/cross out stuff that doesn't.

NOTE: I'm not a lawyer, nor am I your agent. This is not legal advice.

Also, by Multi-family, do you mean a Condo or is it a whole apartment complex?

Thanks bitter old man! The property is a duplex