Buyout of partner on title in Texas

[Theodore Rivera]

Hi All,

I have a question regarding removing a partners interest on a property. One of the partners wants out of the recently purchased property that was purchased by 50/50 interest. The first partner will be buying out the second partners interest. Would this be considered a typical real estate transaction where a TREC contract is used to buy the interest of the second party or can a grant deed be given to the 1st partner to convey the 2nd partners interest. What would be the most effective, efficient way of doing this transaction? Consideration will be given for the conveyance of partners interest. Your comments are greatly appreciated.