Orange County Partition Action Attorney
Partition actions arise when two or more co-owners such as joint-tenants, tenants-in-common, beneficiaries and siblings who inherit property sever co-ownership (cash out equity) through a sale of the shared real estate asset. Commonly, a partition action claim arises when one co-owner of property desires to sell the property and the other co-owner does not want to sell. The party seeking a sale can “sue to partition.” Partition action attorney Edwin Fahlen offers experienced legal representation for property owners seeking or opposing the partition of real property.
Personal, Business or Investor Relationships Sour
When two or more individuals (friends, partners, investors, inheritors) or business entities own real property such as a house, investment property, commercial building or land and the relationship sours, what can be done if their is no consensus on dividing the property or selling the property to distribute the equity? In such a case, a partition action may be necessary. It might not be a ‘falling out’ but one or more of the individuals’ goals have changed, they might disagree as to how to own or manage the property, or simply need to cash out their equity in the property.
Siblings, Inheritors — Goals Change or Disagree
Another common dilemma is when two or more siblings or multiple individuals inherit a property –often unexpectedly– and one or more doesn’t wish to co-own the property but wants to get their fair share of equity — usually in cash. Orange County partition action attorney, Edwin Fahlen, can help inheritors divide their inherited property voluntarily if all parties agree. If inheritors are not in agreement, attorney Fahlen can help individuals get their equity by forcing the sale of the property using a partition action lawsuit.
In summation, when one co-owner of property desires to sell the property and the other co-owner does not want to sell, the co-owner seeking a sale can begin a partition action. Moreover, a partition action provides a legal mechanism for ones’ ownership interest to be bought out, sold or eliminated.
What is a Partition Action?
California Code of Civil Procedure — C.C.P. 872.210 — is a very specific statute that sets out guidelines on dividing real property between joint owners of real property other than spouses. If you are a spouse, call Edwin Fahlen to learn about your legal options for dividing marital property. Co-owners of property have the absolute right to request a partition action, unless they have signed an agreement that waives their right to seek partition for a “reasonable” term.
A partition action is a legal claim whereby a co-owner of real property sues its co-owner (individual or legal entity) to force a division of the legal ownership. The need for a partition claim generally arises when co-owners of land, a house, an investment or commercial property disagree as to how to own, manage, operate the property they co-own. A very common example is when one co-owner of property desires to sell the property and the other co-owner does not want to sell. The party seeking a sale can sue to partition.
Common Partition Action Methods are:
Partition in kind: – A partition in kind is usually only reserved for vacant land, or property that can easily be divided. If we were in Central California where large land parcels are common, and you have 40 acres of co-owned land with another co-owner each claiming a 50% interest in the land, then minutiae aside, the two parties wiould typically agree that dividing the land and assigning 20 acres to each party would be fair and equitable. A 50:50 division of land is generally rare because some acres of the property may be worth more than others. With vacant land along an Interstate for example, a portion may be “freeway frontage” and more valuable. Here in Orange County and in surrounding counties, there is little vacant land. Most partition actions in Southern California are for a residential home. Because it would be difficult, if not impossible, to physically split a residential home in half, a home will usually be done via: “partitioned by sale.”
Partition by sale: – Partition by sale occurs when two or more parties agree to sell the property or the court forces the sale and division of proceeds. Overall, partition by sale is far simpler as it is money that is divided, not physical property. Partition by sale is common for single family homes and other developed property where it would be impossible to physically divide the property.
Partition by appraisal: – Partition by appraisal occurs when parties to a partition action lawsuit are in agreement to dividing fair shares following an appraisal. Partition to appraisal requires an agreement by the parties that one party will purchase the other party’s interest following an independent appraisal. If the co-owner who doesn’t want to sell a house can come up with the cash or financing they can “cash out” the co-owner(s) who want to sell.
Do I Have to Sell My Home?
This is a question asked by many people! Let’s face it, any of us can become emotionally connected to a home, a neighborhod, or a real property dream. If your co-owner wants to cash out, generally speaking, you need to find a way to accomodate them. That would mean agreeing to each owner’s “fair share” and then finding the means to buy them out with cash, cash from a new mortgage, or even some sort of other “mix” of acceptable renumeration (mix of cash, or personal property such as RV, boat, furniture, jewelry, stocks, bonds, interest in a business, etc.).
Is a Partition Action Lawsuit Necessary?
While a partition action lawsuit might seem extreem, a case could be made that the other co-owner(s) who are unwilling to divide or sell are taking an extreem, unyielding stance. Fortunately, few partition action lawsuits actucally get decided in a courtroom. The seriousness of one party filing of a partition action lawsuit is often sufficient to convince inflexible co-onwers that it really is in everyone’s interest to establish and distribute everyone’s fair share.
If you are the co-owner of a property wanting your fair share — or — you have been served a partition action lawsuit, you should seek qualified legal representation. Call partition action lawyer, Edwin Fahlen, or if you don’t have privacy right now, please schedule a free consultation or send Edwin a private message using the quick Contact Form on this page.
Orange County Partition Action Lawyer
Orange County partition action lawyer, Edwin Fahlen – can answer any questions you might have by phone seven (7) days a week if you are involved in a real estate transaction where one of the co-owners wants to to move on or a real estate deal that has developed complications. If a phone call is inconvenient, please use Edwin’s Schedule a FREE Consultation Form , or Quick Contact form on this page.
At The Law Office Of Edwin Fahlen — we provide experienced legal representation for property owners seeking or opposing the partition of real property. As a real estate attorney with more than 30-years helping Orange County residents with real estate legal matters, Edwin Fahlen will work diligently to obtain the best division of real estate outcome.