Partition Attorney in Corona, California Serving Southern California
A marital property partition is an agreement between spouses that allows them to convert community property into the separate property of one spouse. This agreement must take place after the couple is married.
Property or a property interest transferred to a spouse by a partition or exchange agreement becomes that spouse’s separate property. The partition or exchange of property may also provide that future earnings and income arising from the transferred property shall be the separate property of the owning spouse.
While parties may have purchased the property as tenants-in-common because they are family, friends, or fellow investors, the relationship may not turn out how one or both parties expected.
Our partition attorneys in California bring an end to real estate co-ownership disputes. We accomplish this goal through the only court ordered process to do so: partition law in California.
There are three forms of partition in California:
- Partition by Sale: Allows a co-owner of real property to force a sale of the entire property despite the unwillingness of any co-owner. Absent a waiver, an owner has an absolute right to partition his or her interests in the property and force a sale of the property. The Court must determine that under the circumstances, sale and division of the proceeds would be more equitable than division of the property. The Partition by Sale can take place at public auction or private sale, or at the recommendation of a referee, by listing the property for sale with the assistance of a licensed real estate broker.
- Partition by Appraisal: A partition that is accomplished through one party purchasing the other party’s interest in real property on certain agreed terms, under court supervision and based on a third party appraisal.
- Partition in Kind: A partition in kind is a form of partition in which a property is divided among co-owners. The individual interests of owners in a property are severed in a way that each owner can enjoy his/her share of the property free of others and can dispose of his/her share without any obstruction from others.
Often times, there is an uncooperative tenant or co-owner at the property who is in no rush to leave. Our experience will make sure that the occupants cooperate or pay the price both financially and possibly through paying your attorneys fees for the partition.
Finally, after the property is sold, every partition involves an accounting wherein partition offsets may be considered. If one co-owner made improvements, paid the taxes or paid the mortgage, this will be the time to recoup those payments.
Contact a Partition Attorney in California Today
If you are looking to end your co-ownership relationship, it is critical to protect your rights and speak to an experienced and creative real estate litigator. Call Talkov Law today at (951) 888-3300 or contact us online for a free analysis of your situation.