What can a court order in a partition case?

If necessary, the court may order an inquest regarding the income and expenses of the property. Each co-owner is given the opportunity to provide evidence of their contributions to the upkeep of the property, such as payment of real estate taxes, insurance, and property repairs, and any income they may have earned from renting the property.

What kind of lawsuit is a partition action?

A partition action is a type of lawsuit pertaining to joint owners of real property. When two or more owners cannot agree on the disposition of the property in question, any of the owners can file a partition action in the appropriate court. What type of relief can be granted by the court in a partition action?

What does it mean to partition jointly held property?

Partition of Jointly Held Property – The Basics. To legally “partition” property means to bring a proceeding in court to force the physical division or sale of the property and division of the proceeds among the co owners.

What kind of relief can be granted in a partition action?

When two or more owners cannot agree on the disposition of the property in question, any of the owners can file a partition action in the appropriate court. What type of relief can be granted by the court in a partition action? The most common type of relief is an order that the real property be sold and the proceeds divided among the owners.

How are proceeds divided in a partition case?

The proceeds would be divided in the same proportion as the ownership interests, so that if two parties each own half of the real estate, the proceeds are divided 50% – 50%. Can a court order other types of relief in a partition action?

When to claim expenses in a property partition?

After the Partition Referee has sold the property, the law allows claims for costs, fees, and expense reimbursements by the parties against the sale funds being held by the Partition Referee.

What should I ask in a partition case?

In order to properly evaluate a case, we request that a copy of all documents relating to ownership of the property, such as deeds, wills, and other agreements, be provided. We would also request copies of all documents showing expenses and any income related to the property.

How is the referee in a partition case paid?

The referee, who often bills by the hour, has every incentive to bill the case as much as possible. The broker or auctioneer will get a percentage of any sale, usually in the 5-10% range. The accountant will also get paid hourly. In other words, all of these consultants will drain the asset of money before it is even sold.