Partition Attorney in Moreno Valley, California Serving Southern California
There can be nothing more frustrating than co-ownership of real estate (real property) in California. “Partition” is the legal term referring to division of real property among joint owners. It may be voluntary, by agreement or partition deed.
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: When dividing a property by partition in kind is not practical, for instance in the case of a single-family home, the court may order a partition by sale. This involves selling the property and giving each owner a share of the proceeds. As with partition in kind, the proceeds must be divided equitably – fairly – among the owners.
- 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: Severs the individual interest of each joint owner. Each owner ends up controlling an individual, divided portion of the property.
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.