Going beyond a recently proposed microscopic model for the incommensurate transition in the spin-Peierls TiOX (X=Cl, Br) compounds, in the present work we start by studying the thermodynamics of the model with XY spins and adiabatic phonons. We find that the system enters in an incommensurate phase by a first order transition at a low temperature $T_{c1}$. At a higher temperature $T_{c2}$ a continuous transition to a uniform phase is found. Furthermore, we study the magnetism in the incommensurate phase by Density Matrix Renormalization Group (DMRG) calculations on a 1D Heisenberg model where the exchange is modulated by the incommensurate atomic position pattern. When the wave vector $q$ of the modulation is near $pi$, we find local magnetized zones (LMZ) in which spins get free from their singlets as a result of the domain walls induced by the modulated distortion. When $q$ moves away enough from $pi$, the LMZ disappear and the system develops incommensurate magnetic correlations induced by the structure. We discuss the relevance of this result regarding to previous and future experiments in TiOCl.