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Princeton, NJ Partition Action Lawyers

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Individuals enter into real estate partnerships for a variety of reasons. Some people want to invest in real estate in order to generate income or benefit from long-term appreciation. Others become co-owners as a result of inheriting property from a family member, sharing ownership with others, or purchasing property during the course of a marriage.

No matter how well-intentioned these alliances may have started out, things like personal or financial issues can occasionally interfere with their ability to continue. Sometimes the partners decide to end the partnership amicably and come up with a just plan for dividing up the property. However, disagreements can arise regarding how the property should be divided between them. In these cases, starting a partition action is required to properly distribute and divide the shared property.

If you are currently facing a partition dispute in Princeton, New Jersey and require legal assistance from experienced Princeton partition action lawyers, we encourage you to contact The Law Offices of Patel and Cardenas today for a complimentary consultation session. Our team is dedicated to offering personalized advice that meets your specific needs.

Who Requires A Partition Action?

A partition action can generally be brought by any co-owner of real estate to divide the property when there is disagreement over how it should be divided. Even if the parties can agree on how to proceed with the property after a partnership split, they may still need to file a partition action to divide the property legally and equitably or to resolve any lingering issues that may arise during the process.

Some of the more common scenarios in which a partition action may be required are as follows:

Divorce: In the event of a divorce, when shared property or assets need to be divided between spouses, a partition action may be necessary if there is a disagreement over how the property should be divided or if the property cannot be physically divided.

Family Inheritance: When multiple family members inherit a property or assets, conflicts may arise over how the inheritance should be divided or managed. A partition action can be pursued to resolve disputes and ensure a fair distribution among the heirs.

Estate Administration: In the context of administering an estate, if co-owners of inherited property or assets cannot agree on its use or disposition, a partition action can be pursued to resolve the disagreement and allow for an equitable distribution or sale of the property.

Co-ownership Disputes: In any form of co-ownership, such as when friends or business partners jointly purchase property or assets, conflicts can arise if there is disagreement over how to manage, use, or distribute the property. Partition actions can facilitate a resolution by determining each co-owner’s rights and interests.

Joint Tenancy Disputes: Joint tenants, who own property together with a right of survivorship, may encounter conflicts regarding the management, use, or transfer of the property. A partition action can be pursued to address these disputes and determine the appropriate division or sale of the property.

Types Of Partition Actions Our Princeton Partition Action Lawyers Can Assist With

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.

  1. Partition In Kind

A partition in kind action 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.

  1. Partition By Sale

A partition by sale necessitates the sale of the property and the subsequent distribution of the proceeds. The decision to opt for a partition by sale often arises when dividing the property proves too difficult or when disagreements arise amongst the co-owners regarding its division. In such cases, the court may intervene and mandate the sale of the property, ensuring that the parties receive their rightful share based on their respective ownership interests.

  1. Partition By Appraisal

A partition by appraisal 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.

What The Law Offices Of Patel & Cardenas Can Do For You

At the Law Offices of Patel and Cardenas, our Princeton partition action lawyers want to help you understand your legal options and get the best result in your property dispute. We can provide you with savvy, targeted legal advice based on our extensive experience in partition action cases. Our top priority is helping you achieve your goals. Contact our dedicated staff today to see how we can help. Take advantage of our free consultation to discuss your case and the legal options available to you.

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