Experienced Partition Attorneys Serving Irvine
Talkov Law’s attorneys serving Orange County are exceptionally experienced in the area of California partition actions. A California partition action is a law that allows co-owners of real property to divide the property among themselves. The partition statutes provide a legal mechanism for co-owners to divide the property without having to go through the court system. The partition statutes allow co-owners to divide the property either by agreement or by court order. If the co-owners cannot agree on how to divide the property, then the court will divide the property in a way that is fair and equitable to all parties. The partition statutes also provide that any partition of the property must be in accordance with the laws of the state of California. The legal effect is that these statutes provide a legal mechanism for co-owners to divide their property without having to go through the court system.
Our team of partition attorneys can assist co-owners with frequently asked questions about partitions, such as:
- What are the tax implications of a partition action? It is best to seek the advice of a tax attorney or CPA about tax issues. However, the most common tax issues in partitions, like other sales, can involve capital gains taxes and the potential partial or full reassessment of property taxes.
- How will the property be divided if a partition action is successful? In most partition actions, the property will be sold, rather than being divided. If the property is eligible for partition in-kind, the court can appoint a referee to prepare a report on dividing the property in a manner that does not damage the value of the fractional interests.
- What to expect in a California partition action? Partition actions necessarily resolve the conflict between co-owners through an expedited statutory process. A capable partition attorney will assist in expediting the process and producing the most favorable outcome.
- In a partition action, can I be reimbursed for paying more than my fair share of the down payment? Yes, partition actions allow for offsets whereby one co-owner claims excess payments for mortgage, taxes, insurance, improvements, repairs and other property expenses
- Can a partition action be stopped? Generally, a partition action cannot be stopped, but a defendant may be able to buy time to seek a resolution. Eventually, however, the plaintiff can generally force the sale of the property based on the absolute right to partition.
Speak to Our Irvine Partition Attorneys Today
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Partition Actions in Irvine
Partitions are quite common in Irvine. According to Zillow, the median home value in Irvine, California is $845,000 as of 2021. As of 2020, the population of the California area of Irvine is 282,572.
Irvine is a city located in Orange County, California and is the second-largest city in the county. Irvine is known for its high quality of life, excellent schools, and diverse population. The city is home to the University of California, Irvine, as well as several other colleges and universities. Irvine is also home to many corporate headquarters, including those of Allergan, Blizzard Entertainment, and Broadcom. The city is known for its many parks and trails, as well as its vibrant arts and culture scene. Irvine is a great place to live, work, and play.
Briges v. Sperry – Partition Action Case Study
In the legal case of Briges v. Sperry, 95 U.S. 401 (1877), the issue was whether a partition of real estate could be made without the consent of all the owners. The case involved a dispute between two brothers, William and John Sperry, over the partition of their father’s real estate. William wanted to partition the land, while John objected. The court held that a partition of real estate could not be made without the consent of all the owners, and that William’s attempt to partition the land without John’s consent was invalid. The court also held that the partition could not be made without the approval of the court. This case established the principle that all owners must agree to a partition of real estate before it can be legally enforced.
Contact our Team of Experienced Partition Lawyers Serving the City of Irvine in the County of Orange, California.
Our partition litigation attorneys will work diligently to obtain a favorable outcome on your behalf, whether by negotiation or litigation. Call the experienced real estate partition attorneys at Talkov Law at (949) 888-8800 or contact us online for a free consultation about your co-ownership issues.
Our partition attorneys in Irvine, California serve Orange County and surrounding areas including Newport Beach, Costa Mesa, Tustin, Santa Ana, Lake Forest, Laguna Hills, Mission Viejo, Aliso Viejo, Laguna Niguel, San Juan Capistrano.