Co-owning a property can lead to various complications. If you and your co-owner disagree on how to manage your property or whether to sell it, you could be facing a serious dispute. To resolve this, you may want to consider initiating a partition action.
While a partition action is technically a civil lawsuit, the court acts as a neutral party to help settle the dispute fairly. To achieve the best possible outcome, work with an accomplished Coral Gables partition action lawyer. A real estate attorney could review your case and develop a tailored legal strategy that aligns with your goals.
Anyone who owns a property has the right to seek a partition action. The parties pursuing a partition action must have an undivided interest in the property, meaning they have rights to the property under the same title. The main types of property ownership with undivided interest have specific rights and rules.
In this arrangement, two or more individuals hold ownership interests in the property. Each co-owner owns a specific share, which may differ in size, but they all share equal rights.
This form of ownership includes the right of survivorship, meaning that when one co-owner passes away, their share automatically transfers to the surviving co-owners.
Tenancy by the entirety ownership is exclusive to married couples and includes the right of survivorship. Both spouses hold undivided interest, and neither person can sell or transfer their share without the other’s consent.
When a property is held in a trust, beneficiaries may share an undivided interest in it, as specified in the trust agreement.
Regardless of the type of ownership, the parties may need to initiate a partition action if a dispute about managing or selling the property arises. A credible partition action attorney in Coral Gables could help someone navigate their case and achieve a favorable outcome.
Attempting to handle a partition action lawsuit in Coral Gables without an attorney can lead to costly mistakes that may result in a forced sale. A lawyer could review the facts of a case, including the type of ownership, the property’s value, and existing co-owner agreements.
They could then recommend the best course of action, such as negotiation, mediation, or a partition lawsuit, and work to safeguard a person’s rights.
If the case proceeds to court, they could present compelling evidence, advocate for a sale or physical division of the property, and attempt to maximize an individual’s financial share. Diligent legal counsel could also help resolve additional issues, such as liens, debts, or encumbrances on the property.
If you cannot reach an agreement with your property co-owner about managing or selling the property, you may need to consider a partition action. Working with a Coral Gables partition action lawyer may improve your chances of a fair outcome.
At Jacqueline A. Salcines, P.A., we have helped property owners settle various types of legal disputes.
As an attorney-owned title company, we have the skills to address any legal concerns that may arise during your property transaction. Our attorneys are here to provide the legal guidance and support you need. Reach out to our team today to schedule your consultation and take the first step toward a fair resolution.
Jacqueline A. Salcines
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