Partition Actions in Vernon
Vernon is a small city located in Los Angeles County, California. It is an industrial city, home to over 1,800 businesses, and is the most densely populated city in the state. It is known for its low taxes, which have attracted many businesses to the area. The city is home to a variety of industries, including food processing, manufacturing, and warehousing. It is also home to the Los Angeles County Fairgrounds, which hosts a variety of events throughout the year. Vernon is a great place to live, work, and play, and is a great place to visit for its unique attractions and culture.
According to Zillow, the median home value in Vernon, Los Angeles County, California is $541,400 as of 2021. As of the 2020 census, the population of Vernon, California is 112.
Experienced Real Estate Partition Action Attorneys Serving Vernon
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 awarding each co-owner a certain percentage of the property’s value. The court will then order the property to be divided according to the co-owners’ wishes. The partition statutes also provide that if the court finds that a physical division of the property is not possible, it may order the property to be sold and the proceeds divided among the co-owners.
Our team of partition attorneys can assist co-owners with frequently asked questions about partitions, such as:
- What is California’s Partition of Real Property Act? Effective January 1, 2023, California’s new partition law allows defendants to buy out the interests of the plaintiff at an appraised value.
- What is the timeline for a California partition action? Most partition actions are resolved in 3 to 6 months by way of settlement. Other cases can take 6 to 12 months to obtain an interlocutory judgment of partition, which generally appoints a referee to sell the property.
- Can you lose interest in a jointly owned home by moving out? Generally, co-owners maintain their ownership interests regardless of whether they live at the property. However, in rare cases, leaving the property for many years without paying taxes or other expenses may allow the co-owners in possession to argue that they have adversely possessed the property. Generally, these co-ownership disputes do not get easier with time, so it is important to act promptly.
- Can I still file a partition if my co-owner has filed for bankruptcy? Yes, the partition action can generally be filed in the bankruptcy court or the bankruptcy court can apply state partition law to allow offsets when the co-owned property is sold by the bankruptcy trustee.
- Do I need to go to court to win a partition action? While the partition action must be filed with the court, partition actions rarely involve a trial in which the co-owners appear at court. This means it is extremely unlikely that you will need to step foot in a courtroom. Most partition work is done by motion practice involving tentative rulings with little interaction between the court and the attorneys, let alone the co-owners.
Kenco Investments, Inc. v. Marsh – Partition Action Case Study
In the legal case of Kenco Investments, Inc. v. Marsh, 2020 WL 3444435, F077602 (24-Jun-2020), the issue of partition was at the center of the dispute. The dispute arose when Kenco Investments, Inc. (Kenco) and Marsh, the owners of a jointly owned property, could not agree on how to divide the property. Kenco sought a court order to partition the property, while Marsh argued that the property should remain undivided. The court ultimately found that the property should be partitioned, and ordered that the property be divided into two separate parcels. The court also ordered that Marsh pay Kenco for the value of the portion of the property that was allocated to Kenco.
Contact our Team of Experienced Partition Lawyers Serving the City of Vernon 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 (562) 600-3300 or contact us online for a free consultation about your co-ownership issues.