Sometimes co-owners of property do not agree as to what should be done with the property. In some situations, one owner wants to sell the property and the other owner wants to rent or live in the property.
If co-owners have this type of dispute and it cannot be resolved, The law allows a division of property through a partition action, which can be brought to divide the property into individual shares among the owners, allowing you to move forward with your share independently.
There are different ways to potentially partition a property – by having each owner controlling an individual, divided portion of the property or by sale. In the sale situations, there is frequently an opportunity to “buy out” the other co-owner prior to an actual sale.
In fashioning an award in a partition action, a court may consider the amount of any down payment and any mortgage payments, as well as the reasonable value of repairs and improvements made to the property.
Our office has successfully handled numerous partition actions.
We know the law! We know how to get it done!
If you are having a dispute with a co-owner of property, call us today for a free consultation.