What is a partition to sell?
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”.
How does a petition to partition property work?
Petition to partition is a legal action used to divide real estate or other assets jointly owned by family members, business partners, and other groups of people. After investigating the petition lawsuit, the court will choose to divide the property through partition in kind or forced sale partition.
Can a partition be sold at a public auction?
A sale may be conducted at a public auction or a private sale. Any officer conducting the sale must secure the highest receivable price for the property sold. A sale must be beneficial to persons lawfully entitled to the proceeds of the sale. In some jurisdictions, all partition by sale must be at public auction.
How to file a partition by sale in California?
Below is a form complaint for partition by sale in California that is intended to be used in consultation with a real estate attorney. Note that co-owners can consent to selling a property to a third party or to one or more of the co-owners as a settlement.
How long does it take to file petition for partition?
If the court rules your favor as a plaintiff, the commissioners will have 20 days to partition and share the property. Petition to partition is a legal action used to divide real estate or other assets jointly owned by family members, business partners, and other groups of people.
What does it mean to petition for partition by sale?
Petition by Sale. This is also known as “partition by lactation” or “partition by succession.” It’s accomplished by a court-ordered sale of the property, with the proceeds divided among the owners. A Partition’s Disadvantages…
Who is eligible for a petition for partition?
As a legal device for the division of property, petition for partition is only eligible for joint tenants (co-owners), tenants in common, and in some states, tenants in entirety. During the petition, creditors might be included if there are liens on the property. Debt on the property solidifies the plaintiff’s case to partition by sale.
How does a partition proceeding work in California?
An owner may terminate joint ownership in property without consent of the other property owner by filing a petition to partition real property. A partition proceeding is a proceeding before the Clerk of Superior Court where the Clerk can order the actual division or sale of property held by two or more people.
When is a petition to partition a home a last resort?
When a family can’t agree on the terms of the sale itself, the petition to partition can force the co-owners to sit and negotiate. This makes a petition to partition the last resort when there is no cooperation among co-owners.