If you own property with another individual and you wish to sell that property but your co-owner is not cooperating, an action for partition may be right for you. An action for partition is a civil lawsuit that forces the sale of jointly owned property and splits the proceeds between the former owners.
Common scenarios which require an action for partition include when heirs inherit property and disagree on whether to sell and when business ventures deteriorate and the parties cannot agree on how to distribute their assets. It is important to note here, however, that an action for partition cannot resolve a dispute over property held by husband and wife as tenants by the entirety.
In a partition action, the court makes a determination as to whether the property should be sold or divided (division usually occurs on large pieces of land) and how the proceeds of the sale will be distributed. When deciding how to divide the proceeds of the sale, the court may consider the contributions of the parties to the property. For example, if one party paid the taxes, insurance, or mortgage they could be entitled to a larger share of the proceeds. Moreover, if any money is owed on the property, usually in the form of mortgage payments and taxes, the court will ensure those are satisfied out of the sales proceeds before distributing the remainder to the prior owners.
If you think that an action for partition may be right for you, please contact our real estate attorneys today to schedule a consultation.
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