What Happens When Co-Owners Don’t Agree
A partition proceeding is the result of joint property owners not being able to agree on how to divide up common property. It is used quite often in cases where property is owned by a group of siblings or other people who either did not specifically enter into a property ownership agreement with one another or bought the property in agreement and then started disagreeing. A partition proceeding can be used in any case where is the joint ownership of property.
A partition proceeding is filed in court in the county where the property is located. It runs basically the same as any other civil suit in that a complaint is filed and there is a specific procedure for how the case is handled and any sort of service or notice requirements.
A partition proceeding can result in a couple different outcomes. For example, if the property in question is a large piece of land, it may be split among the parties to the suit. On the other hand, for property such as a house, it would likely be sold or auctioned off with the proceeds being split between all of the joint owners of the property.
Usually the proceeds are split according to the percentage of ownership between each party. For example, if four people owned property jointly, they would each get 25% or if one person owned 60% of a business and the other 40%, it would be divided as such. Any costs and expenses related to the property, such as maintenance costs or taxes, would be split according to the ownership percentage. However, if one of the owners had incurred additional expenses related to the property, such as paying an entire tax bill to avoid foreclosure, they may be entitled to reimbursement for the part that would be owed to them by the other joint owners.
Because a partition proceeding is usually the result of joint owners who are not able to agree on what should be done with property, it can often be contentious. If you find yourself in such a situation, you want to be sure that you have skilled representation on your side and hire a Miami attorney who can handle such proceedings. Call the Law Offices of Albert Gurevich at (786) 522-1411.