Utilizing an escrow may prove to be a cost-effective way to complete a co-owner buyout as the resolution to a co-ownership dispute. The role of using an escrow company during a real estate transaction is to facilitate a smooth and
No. A common misconception is that a majority of the ownership interests are needed for a court to compel the sale of a jointly-owned property in a partition. This belief is entirely incorrect. Any owner, regardless of their ownership percentage,
Co-owners are often unsure how assertive they need to be to force the sale or buyout of their jointly owned property. Usually, the lack of cooperation of the other co-owners and the monetary amount involved will dictate how assertive a
One of the most common reasons that a partition action is filed is because a co-owner who was previously in a relationship with their other co-owner now wants to sell the house, but their ex refuses. It’s not uncommon for
While the simple answer is “yes,” the reality of a Realtor serving as a partition referee for a partition action is nuanced and warrants a deeper understanding of the pros and cons of using a Realtor for this function. In
A TIC agreement, short for tenants in common agreement, is becoming a popular method for co-ownership in California, often converting a single property into a townhome with multiple units occupied by unrelated co-owners. Popular for decades in San Francisco, the
The threat of foreclosure poses a significant challenge for homeowners facing financial hardship and particular difficulty when a co-owner may be engaged in an active partition action. Amidst this uncertainty, injunctions emerge as a potential safeguard, offering homeowners a
The threat of foreclosure poses a significant challenge for homeowners facing financial hardship and particular difficulty when a co-owner may be engaged in an active partition action. Amidst this uncertainty, injunctions emerge as a potential safeguard, offering homeowners a
Whether parties agree or disagree, a co-owner can be removed from title. If the parties reach an agreement, usually involving a payment, a co-owner can transfer their interest by way of a deed. If the parties cannot reach an agreement,
Facing a partition action from a co-owner can be stressful and confusing. It usually means there’s a disagreement on how to handle or sell a property you both own. Partition actions spring from a myriad of situations, reflecting the diverse