The co-owner can file a legal proceeding called a partition action. These are usually relatively straight forward. If they are not, I’m equipped to handle more complex litigation.
Partition: The court will 1st determine if the land can be divided without materially impacting the value of each owners’ share. It can be divided equitably and fairly, then the court will appoint a group of commissioners to determine a fair division.
This will include surveying the property, trying to divide with equal amount of acreage per owner while taking into consideration weather some areas have more value. The value attributes include factors such as the lay of the land, road frontage, which areas perk better, views, the nature of abutting properties, etcetera.
Sell in Lieu of Partition: If the properties cannot be divided in a way that will not substantially impair the owners’ value, the court will appoint a commissioner to sell the property either privately or at the Court House steps.
If you choose to file a partition action or receive a partition filing (are Served with summons and pleadings. TIP: mark date you are served on the summons) as a respondent, please know that I have dealt with partition actions ranging from:
1) a house on less than an acre (multiple times)
2) a house where someone attempted to convey their 1/3 partial interest to a spouse in the form of a life estate (head scratch on that one)
3) a lake house on Lake Norman
4) a nursing home
5) 20 acres in North Raleigh which received contract in excess of $13 million
6) Farmland in Stokes County with181 known heirs and that required guardian ad litems for both unborn heirs and unknown heirs
7) vacant lots near commercial tracts
8) commercial buildings
When Kirk Sanders and his legal team take a partition action representation, we believe in working the case hard on behalf of our clients. Our experience, strategy, and advice on the different potential outcomes and steps required to obtain the result are an added value for our clients.
If you want to pursue a partition of land, whether by sale or division, call 336-510-4000 and ask for Kirk Sanders or his team. Partition Attorney NC.
We understand that being in this Co ownership situation can be upsetting. In addition, we understand that you want to obtain a financial result that is beneficial to you.
PLEASE NOTE THERE IS NO LEGAL REPRESENTATION BY KIRK SANDERS OR HIS FIRM WITHOUT A SIGNED FEE AGREEMENT BY BOTH CLIENT AND ATTORNEY. CONTACTING THE ATTORNEY DOES NOT CREATE AN ATTORNEY CLIENT RELATIONSHIP. ATTORNEY RETAINS THE RIGHT TO DECLINE YOUR CASE.
I’ve handled cases for ex-spouses that still own property, beneficiaries of estates that inherited property as tenants in common, beneficiaries of trusts that inherited property as co owners, unmarried partners that are both on the deed, same sex partners that are both on the deed, siblings that don’t want to own property together, business partners.