Paramount Partition Lawyer

Partition Actions in Paramount

Paramount is a city located in Los Angeles County, California. It is located in the southeastern portion of the county, just south of the city of Long Beach. The city is known for its diverse population, with a large Hispanic population and a large African American population. Paramount is also home to a variety of businesses, including manufacturing, retail, and food service. The city is also home to several parks and recreational facilities, including the Paramount Skate Park and the Paramount Sports Complex.

According to Zillow, the median home value in Paramount, Los Angeles County, California is $420,000. As of the 2020 United States Census, the population of the city of Paramount, California is 54,098.

Experienced Real Estate Partition Action Attorneys Serving Paramount

Talkov Law’s attorneys serving Los Angeles County are exceptionally experienced in the area of California partition actions. California partition actions provide a legal mechanism for co-owners of real property to divide the property among themselves. The partition statutes allow a co-owner to file a lawsuit in court to have the property divided, either physically or by sale. The court will then order the division of the property in a way that is fair and equitable to all parties. The partition statutes also provide that any proceeds from the sale of the property must be divided among the co-owners in proportion to their respective interests in 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.
• How long will it take for the plaintiff to receive his or her share of the sales proceeds? Usually, the property is marketed for sale or purchased by the defendant in 3 to 6 months. If a referee is appointed, that may take 6 to 9 months. With proper drafting of an interlocutory judgment of partition by sale, the referee can be required to disburse the proceeds promptly at the close of escrow or shortly thereafter.
• Who can file a partition action in California? Generally, any co-owner of real property can file a partition action.
• How much does a partition action cost? The cost of a partition action can vary widely depending on the complexity of the case. A typical partition action usually costs between $5,000 and $12,000, with about $8,000 being the most common cost. However, difficulty locating a defendant, the motion to appoint a partition referee, delay tactics by defendants, and other issues may raise the cost of your partition action. An experienced partition lawyer can mitigate costs and resolve your co-ownership dispute with maximum efficiency.
• How long does a partition action take in California?” Most partition actions are complete in 3 to 6 months because most cases settle in either a buyout or agreed sale. However, some cases can drag on for 6 to 12 months.