When two real estate partners share expenses and responsibility for a property, disagreements can lead to tricky legal situations.
For example, if one party wants to sell and the other wants to maintain a property, then legal representation may be required in order to settle the matter peacefully and legally. This is a very common situation with inherited property.
Mark Martinez, The Best Cerritos Ca Real Estate Partition of Sale Lawyers is very familiar with both real estate laws and the Southern California real estate market, and he is the ideal attorney to take your case.
OUR FIRST STEP:
UNDERSTANDING WHAT YOU WANT OUT OF THE PROPERTY.
When it comes to disagreements over property sale, it is important for each party to understand what is most important to them.
For example, if you want to sell the property for profit, then that is what you want out of the property. If you want to hold the property and lease it out to tenants in order to establish recurring revenue, then that is an important viewpoint to establish and understand. Our first step in any partition of sale case is to establish exactly what our client wants in order to best represent them.
OUR SECOND STEP.
SEEKING A PETITION TO PARTITION
When it comes to these types of cases, nine times out of ten the party seeking legal representation is the party that wants to sell.
Since this is usually the case, our next step will almost always be to seek a petition to partition. Under this petition, the party that wants to sell is asking the court to divide the property and force sale. This is a peaceful, non-confrontational way to split property assets equitably.
If you are struggling with a partition disagreement with a co-owner of some real estate, do not handle the disagreement alone.
Call Mark Martinez today: 714-442-9741
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When it comes to real estate and personal injury law, you want Mark Martinez and his Best Cerritos Ca Real Estate Partition of Sale Lawyers team on your side.
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To Each Client Regardless of How Severe Your Case May Be.
When it comes to real estate and personal injury law, you want Mark Martinez on your side. With a background in the real estate mortgage industry, Martinez understands the complexity of real estate deals.
He chose to go into law after encountering dozens of clients in precarious situations who were simply following bad advice. He vowed to become a representative for vulnerable real estate owners, and he has built a career by helping others.
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California real estate disputes:
Partition in kind vs. partition by sale.
When co-owners of real estate disagree about how to use and maintain their shared property, it sometimes becomes necessary to settle the dispute by requesting that the court sever the co-ownership in a process known as partition. In California, a co-owner of property typically may initiate a partition action at any time.
Partition in kind
One way that the courts may resolve a partition action in California is by ordering a partition in kind. In this type of partition, the land itself is divided up and distributed among the owners, leaving each individual with independent ownership of a fraction of the property.
When California courts order partition in kind, they are required to assign an “equitable portion” of the property to each co-owner. This means that the land must be divided fairly – but not necessarily equally.
For example, if the court partitions a 10-acre piece of land between two co-owners, it will not automatically grant five acres to each individual. This issue often arises when one area of the land is more valuable than the rest – for instance due to its proximity to a road, shoreline or other feature of the land.
Land may also be partitioned into unequal parts due to the relative ownership shares of each joint owner.
For example, if Party A has a 25 percent stake in the land and Party B has a 75 percent stake, Party A will receive a proportionally smaller or less valuable portion of the land than Party B. The court may also take into consideration the relative expenditures made by each co-owner for things such as taxes, repairs, maintenance and improvement of the property.
Cerritos Ca Lawyers Real Estate Partition of Sale
As a Mexican-American, Martinez feels comfortable communicating in both English and Spanish, and takes pride in making his limited English proficiency clients feel more comfortable operating in our complex legal system.
He has experienced many phases of the Southern California real estate market, from booms to downturns, and has developed fantastic perspective.
THE DESIRE TO HELP OTHERS
Partition by sale
When dividing a property by partition in kind is not practical, for instance in the case of a single-family home, the court may order a partition by sale. This involves selling the property and giving each owner a share of the proceeds. As with partition in kind, the proceeds must be divided equitably – fairly – among the owners.
Traditionally, the California courts had a strong preference for partition in kind, and would order partition by sale only under very specific circumstances. During the past several decades, however, partition by sale has become more common and is routinely used to sever co-ownership of real estate in California, particularly in urban or developed areas. If one or more co-owners are opposed to the sale of a disputed property, the court may permit them to buy out the shares of the co-owner who has initiated the partition action, thereby preventing a forced sale.To learn more about the legal options that are available when involved in a dispute over jointly owned property in California, contact an experienced real estate lawyer.
Partition Action California
A California partition action happens when one co-owner of real property wants to sell but other co-owners do not want to sell their ownership rights. Partition means division. The opposing co-owners have the absolute right by law to divide the property and sell their portion with the legal remedy of “Partition”. Our attorneys offer top of the line legal services on how to win a partition action.
What is a Partition Action?
A partition action is a lawsuit that forces the sell of ownership in court.Whether it’s a building, home, or farm, anything attached to real property can be divided and sold by co-ownership in California. California legislation has a written Civil Code Procedure to follow when ownership is dissolved or changed.Real property and its rights go with the land. The real property includes easements, rents and debt or profits and all man-made things like fixtures, and fences. A buyer purchases the real estate and/or rights of ownership. This is also known as “bundle of rights.” The division of ownership can become complex and difficult.
It is important to make sure when you decide to dissolve or purchase real property with other co-owners that each owner fully understands what fraction/interest they actually own. It’s equally important to define what the property is used for profit or pleasure, maybe both. What was the purpose for property? Defining exact intent (farmed property) will save time and money if one of the owners decides to partition later.
Who Can File for a Partition?
The procedure for partition is statued. The California Law Civil Procedure Code section 872.210 states anyone who wants to dissolve ownership that is jointly owned with another person has a legal right to sell his/her interest if desired. Eligibility for Partitions are:
Inheritance that is usually family members who inherit real and personal property.
Divorce/mutual properties owned by spouses.
Invested ownership partners with separate values of ownership in real and personal property. Partition by concurrent interest is when owners have the right to sell by law if they chose. It is an absolute right of ownership.
There are exceptions to this rule:
1) waived the right to partition in writing/contract or 2) community property: owned by a married couple. This division can happen but takes place after a divorce in family court. Understanding the types of ownership that may lead to partition actions may help you to further avoid a lawsuit. Speak with our California real estate attorneys to stop the partition action before it happens.
Joint Tenancy –
Joint tenancy can be created only by the intention of the parties and exist when two or more persons are equally entitled to an undivided interest in a specific piece of real property to use, enjoy, and possess. Joint tenancy is a right of survivorship.
Meaning upon the death of one joint tenant’s his/her rights and interest pass to the surviving tenant or tenants without the need of probate process. Remember this type of tenancies is created by intent and is clear to all owners/tenants.
Tenancy in Common – Tenancy in common is created by an estate in land is held in land by two or more persons with no right to survivorship. Tenancy in common their share descends to his/her heirs.
Tenancy by Entirety – Tenancy by entirety are only two persons in ownership/tenancy and are required to be married. Partition occurs as a result of divorce.
Tenancy in Severalty – Tenancy in severalty is when one person owns the property. There is no co-ownership apart from others interest, severed.
Cerritos California Partition Procedures Defined by Statute
A partition lawsuit asks the courts to force the division or sale of the property. There are three types of partition:
Partition in Kind:
This happens when the parties come together an agreement is achieved. They decide to divide their ownership rights fairly into separate individual pieces, a fraction of the property.
Partition by Appraisal:
The property is appraised and sold. They divide up the proceeds fairly. This would happen with a single family home being that you can’t split the home in half. If one of the owners wants to buy out the other, it can be done after property is appraised.
Best Method to Avoid a Partition
Mediation is a great tool that brings owners together to try and resolve the issues without occurring high legal fees. It is always best to try and reach out, if possible to avoid stress, time, and expense of a partition lawsuit.
If the meeting of the mind fails consult a legal experienced attorney and receive guidance on how to win a partition action.
For a free initial consultation, call us at 714-442-9741, or Contact Us online.
Office: 600 W Santa Ana Blvd, Ste 925 Santa Ana, CA 92701
MARTINEZ LAW CENTER TAKING CASES IN:
Cerritos County, LA County, Riverside County, San Bernardino County, and limited cases in San Diego.
Mark has experienced many phases of the Southern California Real Estate Market, from booms to downturns, and has developed fantastic perspective.