How to transfer property in Texas

[Vickie Bruce]

I need help.  My parents passed away and have always had the 20 acres they lived on in both mine and my sisters name.  Now that they have passed, my sister and I are wanting to divide the 20 acres and each give our 50% portion to the other.  No money is owed on the property or houses and my sister and I have paid up all of the taxes owed on it.  Each want to own out right 10 acres instead of jointly owning 20.  What steps do we need to take to get this done?  We don't have a lot of money for attorney and we agree on where we are dividing the property. Please help as we have no idea where to start or what to do.

[Kerry Baird]

A surveyor can work with you to divide the land.  

Edited to add: talk with a CPA.  You should have had the property appraised for value.  You inherit at the stepped up basis.  Gifting each parcel to the other has no benefit that I can think of.  Why not split it as it is, and each take the part she wants?  There will be a transfer tax, recording fees and likely more costs if you sell/gift to each other.  

I'm assuming that there is so much more that you need to be aware of.  Please talk with a lawyer and/or a CPA immediately.