Partition Actions in Malibu
Malibu is a beach city located in Los Angeles County, California. It is known for its Mediterranean climate, its 21 miles of coastline, and its celebrity residents. Malibu is home to some of the most beautiful beaches in the world, including Zuma Beach, Surfrider Beach, and El Matador State Beach. It is also home to many upscale restaurants, shopping centers, and entertainment venues. Malibu is a popular destination for tourists and locals alike, offering a variety of activities such as surfing, swimming, hiking, and horseback riding.
According to Zillow, the median home value in Malibu, California is $2,845,000. As of the 2020 United States Census, the population of the Malibu area of California was 12,873.
Experienced Real Estate Partition Action Attorneys Serving Malibu
Talkov Law’s attorneys serving Los Angeles County are exceptionally experienced in the area of California partition actions. California partition actions allows for the division of real property owned by two or more persons. This statute allows for the court to order the sale of the property and the division of the proceeds among the owners. The court may also order the property to be physically divided among the owners. The partition statutes also provide for the court to order the sale of the property and the division of the proceeds among the owners if the court finds that a physical division of the property would be impractical or inequitable. The partition statutes also provide for the court to order the sale of the property and the division of the proceeds among the owners if the owners cannot agree on a physical division of the property. The legal effect of the California partition statute is that it allows for the court to order the sale of the property and the division of the proceeds among the owners if the owners cannot agree on a physical division of the property.
Our team of partition attorneys can assist co-owners with frequently asked questions about partitions, such as:
- What happens to any debts or liens on the property during a partition action? Secured debts are paid from the sale of the property. Secured lenders named in a partition action are generally dismissed with an agreement to pay the mortgage at the time of the sale.
- What are the potential outcomes of a partition action? The most likely outcome in a partition action is that the plaintiff receives fair value for their interest in the property either through a sale to a third party or to the defendant. In rare cases, a property can be divided, through this is not applicable to single family residences with no surplus land.
- How long will it take to get the property partitioned and sold? Most commonly, 3 to 6 months is all that it takes for the defendant to agree to a sale or buyout the plaintiff’s interest in the property for a fair value. Some cases may take 6 to 12 months.
- How does a partition action work in California?
- Will there be a trial in a California partition action? Trials are extremely rare in partition actions because the interlocutory judgment procedure allows for a partition referee to be appointed by meeting just a few elements that rarely involve live testimony from witnesses. Even if a trial occurred, it would almost certainly relate only to the ownership interests or the distribution of proceeds, though most cases are decided on motion heard by the court based on the papers submitted by the parties.
Kraft v. Krausch – Partition Action Case Study
In the legal case of Kraft v. Krausch, 2003 WL 22430209, C043271 (27-Oct-2003) , is a legal case involving a dispute over the partition of a parcel of real property. The dispute arose when the parties, Kraft and Krausch, were unable to agree on the terms of a partition agreement. Kraft argued that the parcel should be divided into two equal parts, while Krausch argued that the parcel should be divided into three parts, with two parts going to Kraft and one part going to Krausch. The court ultimately ruled in favor of Kraft, finding that the parcel should be divided into two equal parts. The court also found that Krausch was not entitled to any additional compensation for his share of the parcel. The case highlights the importance of parties coming to an agreement on the terms of a partition agreement before taking the matter to court.
Contact our Team of Experienced Partition Lawyers Serving the City of Malibu in the County of Los Angeles, 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 (310) 496-3300 or contact us online for a free consultation about your co-ownership issues.