Property disputes between co-owners often result in difficult situations that need legal resolution. Partition is a legal remedy that can be used to resolve disputes. It involves dividing property between the owners or selling the property, and then dividing proceeds. Partition can be a powerful tool in real estate disputes.
1. Partitioning Basics: Understanding the Basics
The legal process of partition allows co-owners to split their interests if they do not wish to continue to own the property together. It can be done two ways:
- Partition in kind: This method involves physically splitting the property and allowing each owner a proportionate share of it.
- Partition through Sale: If the property can’t be divided equitably or in a feasibly manner, it may be sold with the proceeds being distributed to the owners according their ownership shares.
2. Consideration of Partition
When co-owners are in disagreement over the future of their property, or when circumstances change (such as divorce, inheritance disputes or investment disagreements), it is common to consider a partition. If a physical separation is possible, it provides a way to legally end the joint ownership of the property without having to sell outright.
3. Partition: The legal process
A petition for division is usually filed by one or more co-owners at the court concerned. The court will determine which form of partition is most suitable based on both the details of the property as well as the interests of all parties. It may be necessary to appoint a commissioner who will oversee the division of the property or its sale.
4. Challenges to Partition Actions
Partitions can be complicated, especially when parties are at odds over the value or method of division. Another challenge is dealing with properties which have been substantially modified or multiple structures complicating a physical division.
5. Mediation and negotiation
Co-owners may consider mediation or negotiations to settle their dispute before going to court. This can lead to a quicker and more cost-effective resolution. Attorneys are able to play a key role in helping parties reach a solution that is mutually acceptable.
6. What is the impact of a partition on co-owners?
Partitioning a property can be a good way to resolve disputes. However, it may also have significant emotional and financial impacts on co-owners. All parties should be aware of the possible tax implications as well as changes in value when dividing a property.
Partition can be a powerful tool to resolve property disputes and provide a fair distribution of the property between co-owners. Understanding the challenges and process of partition, whether through physical division or a sale, can help property owners navigate conflicts effectively and reach a solution that respects all parties’ rights and interests.
This post was written by a professional at Bonardi & Uzdavinis, LLP. Bonardi & Uzdavinis, LLP is a boutique, full service law firm providing its clients with a wide range of representation. Our primary areas of practice include real estate attorney tampa, probate, personal injury, construction, and commercial litigation. If you are looking for a real estate attorney or personal injury attorney in Tampa Bay contact us today for a case evaluation today!
