Partition

Partition, also known as Partition Action, is a legal remedy, often related to real estate but also applies to personal property, that allows joint co-owners to terminate their co-ownership.

Often, co-owners wish to terminate ownership when some of the following issues arise:

• Uneven distribution of expenses and/or responsibilities.

• Unequal access to the property.

• Personal disputes between the owners.

• Business disputes between the owners.

• Changed circumstances.

• Death of one of the parties, which may indirectly lead to conflict of interest in the new ownership dynamic.

Partitions can become necessary when the co-owners fail to reach a satisfactory agreement. The parties may try to negotiate or compromise, and still fail to reach an agreement.

If one party wishes to sell, for example, but the other wishes to keep ownership, they may come to an impasse. In this case, the party that wishes to sell can initiate a partition action against the other co-owner(s).

In some situations, the court will allow one party the other interest(s); an experienced Florida attorney will guarantee that you are able to explore the entirety of your options according to the law.

Partition also includes the accounting for all sorts of expenses accrued during the ownership period and that may not be reflected accordingly in contract. In these cases, a successful partition action will result in compensation for the expenses.

Family Inherited Property also known as Heirs Property falls under a special law in Florida where family members have the option to buy out other’s share in jointly owned family property rather than it being sold to the public and losing the legacy of generational family wealth and property.

Regalis Law is here to help guide you through your partition case.