Real estate is more than just buying and selling property; sometimes, co-owners find themselves in disputes that necessitate legal intervention. One common legal remedy in such cases is a petition for partition. This legal process allows property co-owners who are unable to agree on the disposition of property to request a court to divide the property or sell it and divide the proceeds.Â
What is a Petition for Partition?
A petition for partition is a legal action filed by a property owner when co-owners cannot agree on the sale or division of their shared interests. This can occur in a variety of situations, such as siblings who inherit a property jointly, business partners who wish to dissolve their shared investments, or divorced couples struggling to agree on the division of assets, to name a few. The goal of a Petition for Partition is to dissolve the partnership between co-owners of real estate. Â
When Should You Consider a Petition for Partition?
- Disagreements on Property Use: When co-owners cannot agree on how a property should be used, sold, or developed, a petition for partition can resolve the impasse, allowing for a fair conclusion that respects each party’s investment.
- Inheritance Issues: Often, heirs who inherit property together find themselves in a deadlock about whether to keep or sell the property. The petition facilitates a resolution that protects the financial interests of all involved.
- Dissolution of Business: In cases where real estate is held under a business partnership, and the partners wish to go their separate ways, filing the petition can equitably divide the property without forcing partners to remain tied to a joint investment.
The Process of Filing a Petition for Partition
Filing a petition for partition involves several steps:
- Legal Assessment: It begins with a comprehensive assessment of the property, ownership shares, and the specific circumstances leading to the dispute.
- Filing the Petition: The petition is then filed in either the probate court where the property is located or in the Land Court.
- Court Evaluation: The court evaluates the petition, reviews the property details, and considers the positions of all parties involved.
- Decision on Division or Sale: If the parties are unable to reach a resolution and depending on the property type and situation, the court may order the physical division of the property or its sale.
- Sale of Real Estate:Â If the court determines that the property needs to be sold, they will appoint a Commissioner, who is entrusted with selling the property and making a recommendation as to the division of the net sale proceeds.
Considerations and ImplicationsÂ
Initiating a petition for partition is a significant step that comes with both legal and emotional considerations. The process can be lengthy and may impact relationships between co-owners. It’s important to consider mediation or other dispute resolution methods before proceeding to litigation. We provide expert guidance to explore all your options, so you can be confident that any action taken is in your best financial and emotional interests.
At DaMore Law, we understand the complexity and sensitivity involved in property disputes. Our experienced litigation attorneys are skilled in navigating the nuances of these matters and handling disputes with expert care and attention. We prioritize clear communication, robust representation, and a personalized approach to meet the unique needs of each client.
Whether through mediation or litigation, our goal is to provide the solution that best protects your interests and facilitates a fair resolution. If you’re facing a real estate dispute, contact us to discuss how we can assist you.