Anyone who shares ownership of a property may someday be subject to a partition action. A partition action occurs when two co-owners cannot agree on the future of their property. This type of lawsuit forces a property sale so owners can split the profits.
Equal profits seem logical and desirable. What could drive partition litigation when both parties receive their fair share?
Changes to the market
Perhaps the real estate market has changed, and one owner thinks it is the right time to sell. However, their partner disagrees and wants to wait. In these cases, the bringer of the lawsuit will need to prepare information to show the court why it is the best time to cut their losses.
Inheritance arguments
Often, deceased loved ones leave their home to multiple benefactors in their will. One person may want to live in the house and keep it in the family, while others may want to sell it for profit. If families cannot resolve these issues privately, legal solutions may be necessary.
Business disagreements
Many people go into business together, only to find that it is not a good fit. One partner may wish to continue the business while the other wants to leave. If they own property together but cannot agree on how to dismantle the company, it may be appropriate to complete a partition action and start from scratch.
Partition actions are typically a last resort to preserve relationships and finances. Claimants who feel this type of lawsuit is necessary should consult an experienced attorney for assistance.
