A Real Estate Lawyer in Boca Raton Helping Landowners with Issues Related to Partitions
Joint ownership of real estate between family members, friends, or business partners is common. In some cases, this arrangement works well for everyone, allowing the parties involved all to benefit from ownership of the property. In others, however, disputes may arise as to what to do with the property. Sometimes, a family member needs cash and wants to sell while others do not. Perhaps your business partner wants to develop the property while you want to use it for farmland. When these kinds of disputes arise, a partition may be in order.
What is a Partition?
A partition is a legal action that can divide property amongst the owners. Partitions can be voluntary, but they can also be imposed by a judge if the parties are unable to agree on how to divide the property. There are two types of partitions:
- An Actual Partition – in an actual partition, the property is divided into smaller pieces, and the joint owners each individually own a part of the former unified parcel. This arrangement tends to work well when the property owners get along and the property is easily divisible into individual sections.
- A Partition by Sale – A partition by sale involves selling the property and then dividing the proceeds from the sale amongst the owners. This type of partition is appropriate in cases where the joint owners cannot agree or the property is difficult to divide into smaller sections.
Either type of partition can be voluntarily agreed upon by the parties or imposed by a court at the request of one of the owners.
Call Us Today to Schedule a Consultation with a Partition Lawyer in Boca Raton
If you are involved in a dispute regarding jointly-owned real estate in which you have an interest or are a party to a partition action, you should speak to a lawyer as soon as you can. Boca Raton real estate attorney Juliana Gaita is an experienced advocate who knows how to protect property owners’ rights. To schedule a case evaluation with Ms. Gaita, contact our office today.