Partition Attorney in Norco, California Serving Southern California
In layman’s terms, a real estate partition is dividing real estate interests. When real estate is a large tract of land and owned by several different owners, a partition may be done as a partition in kind by dividing the land into sections so each owner ends up with a separate, but equal portion of the real estate.
Many times, one co-owner is paying the mortgage, while another co-owner lives at the property without making any contribution to the property. Eventually, this gets old, and co-owners seek to end this unhealthy relationship.
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: Partition and sale of land is a legal remedy available if co-owners of land cannot agree on whether to buy out one or more of the co-owners or sell the property and split the proceeds.
- 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: The court orders that the physical land or property is to be equitably divided between the owners. This is also referred to as actual partition. This option is viable when the property can be divided into equal parts.
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.