Freehold, NJ Partition Action Lawyers
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If you’re involved in a real estate property dispute as the result of a divorce, the death of a loved one, or a business partnership split, The Law Offices of Patel & Cardenas can walk you through this difficult process! Although real estate distribution can sometimes be resolved amicably between all parties involved, a partition action might be required in certain circumstances. In such cases, the court divides the property among all parties involved. Whether you are seeking a partition or defending against one, with our Freehold partition action lawyers by your side, you can be sure that your property rights will be protected throughout the process! Reach out to our law firm today for a free consultation.
Different Types Of Partition Actions
Partition actions are legal proceedings that are used to divide or distribute property among co-owners. There are several different types of partition actions, each designed to address specific circumstances and objectives.
Partition In Kind
One type of partition action is called a partition in kind. This type of partition involves physically dividing the property into separate portions, which are then distributed to each co-owner. Partition in kind is typically used when the property can be easily divided (for example, large plots of land) and the co-owners can agree on how the division should be made.
Partition By Sale
A different form of partition action is known as a sale-based partition. This particular method entails the sale of the property and subsequently distributing the generated funds among the co-owners. The decision to opt for a partition by sale often arises when dividing the property proves to be challenging (for example, a single family home) or when disagreements arise amongst the co-owners regarding its division. In such instances, it becomes necessary for the court to intervene and mandate the sale of the property, ensuring that each co-owner receives their rightful share based on their respective ownership interests.
Partition By Appraisal
There is also a type of partition action called a partition by appraisal. This type of partition involves valuing the property and allowing one co-owner to buy out the other co-owners based on their ownership interests. Partition by appraisal is typically used when one co-owner wants to keep the property and is willing to pay fair market value to the other co-owners.
Overall, these different types of partition actions provide a legal framework for resolving disputes among co-owners and ensuring a fair division of property. Whether it is through a physical division, sale, or appraisal, partition actions play a crucial role in protecting the rights and interests of co-owners.
Common Challenges In Partition Actions
Partition actions, which involve the division of jointly owned property among co-owners, can be complex and challenging. The most prevalent challenges are:
Property Valuation – Determining the fair market value of the property can be subjective and may lead to disagreements among the co-owners. Appraisals and expert opinions may be necessary to arrive at a fair valuation.
Division of Assets – Co-owners may have different preferences and priorities when it comes to dividing the property, leading to disputes and negotiations. Finding a fair and equitable distribution that satisfies all parties can be a significant challenge.
Legal Issues – There may be legal obstacles to overcome, such as title issues or unresolved liens on the property. Resolving these issues requires careful legal analysis and may require court intervention.
Emotional Ties – Co-owners may have a sentimental attachment to the property, making it difficult to reach a consensus on its division (for example, if a parent dies and leaves their house to their three children; one child may not want to sell because they’re not ready to let go). Addressing these emotional considerations, along with legal and financial aspects, can be a complex task.
Our Freehold partition action lawyers can help you overcome any of these challenges and achieve your interests!
Benefits Of Hiring Our Freehold Partition Action Lawyers
Having legal representation during a property dispute is a good idea. First, our partition attorneys are well-versed in the intricacies of real estate law and can advise you throughout the process. Second, our partition lawyers can help you negotiate a fair and equitable settlement that satisfies all parties involved. If you retain us as your legal representation during a partition, we will aggressively protect your rights, advocate on your behalf, and work toward a satisfactory resolution.
How The Offices Of Patel And Cardenas Can Help
Our Freehold partition action lawyers have over three decades of experience in real estate law and related fields. These include foreclosure, probate, litigation, and others. We are licensed in both New Jersey and New York, which can allow us to handle property disputes that cross state lines! Contact the Law Offices of Patel & Cardenas for a free consultation to discuss your legal options!
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Freehold, NJ Practice Areas
Very pleased with the level of care and attention in dealing with this law firm. They were always quick to respond and patient with a very impatient first time home buyer! Robert Ranalli was my attorney and I would recommend for any legal needs.
I had the pleasure of working with Veer Patel and staff for several months and could not have been more pleased with the attention, care, and professionalism of everyone at the firm. Really good experience and would definitely recommend!
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