A lawsuit involving joint owners of real property is known as a partition action. When two or more owners cannot agree on matters relating to the handling of the property, such as whether to keep the property, rent it, or sell it, any of the owners can file a partition action in the appropriate court.
5 Partition Lawsuit Questions
Here are 5 questions to ask if you are considering filing a partition lawsuit.
#1 Do You Meet the Requirements for a Partition Lawsuit?
A property often has a single owner originally who may then leave the property to family members upon death. The property ownership then transfers to numerous owners who may not share the same objectives and aspirations for the property.
A partition lawsuit, which often emerge when the parties are unable to agree on how the property should be used, can only be brought by a co-owner of real property,
This could also occur with couples who purchase property and own it jointly without getting married. If the couple splits up, they can often disagree on how to use the property, which could lead to a partition lawsuit for final resolution.
If your situation reflects one similar to these, and you are the co-owner of real property, you may meet the requirements for filing a partition lawsuit.
#2 Can the Dispute Be Solved Without a Partition Lawsuit?
Co-owners frequently engage in negotiations outside of court to come to a resolution when they cannot agree on what to do with a piece of real estate. In order to help the parties involved establish a settlement agreement, mediation is a frequent strategy.
Even after a partition suit has been filed, mediation, which is facilitated and directed by a neutral third party, may be a helpful course of action.
#3 Do You Have the Resources for a Partition Lawsuit?
It is important to consider the full investment that filing a partition lawsuit can involve, not only in regards to finances, but also the stress and time it may take.
On a financial level, there is a possibility that the judge will award you attorney’s fees and costs, but there is also the potential that fees will come out of your proceeds from the sale of the property.
Nevertheless, there is an investment beyond just the financial that you should consider before taking the action to file a partition lawsuit.
#4 What Do You Want the Outcome to Be?
Take some time to reflect on potential outcomes from filing. The end result of a partition lawsuit is the sale of the real property. The parties can agree on how the sale occurs but, if they don’t, it may take place in the same way as a foreclosure sale.
#5 What Documents Should You Prepare When Meeting with Your Lawyer?
When preparing to meet with your lawyer, compile copies of any records pertaining to property ownership, such as deeds, wills, and other agreements. Include copies of all records outlining costs and earnings associated with the property.
Ready to File a Partition Action?
A partition action is a highly technical legal proceeding that must satisfy numerous particular court conditions. To make sure your rights are upheld, we advise hiring skilled legal representation. Our attorneys at Apfelbaum Law are ready to help you.
If you need assistance or have questions surrounding real estate matters or any other legal matter, contact our office for a consultation.
