Are you searching for an attorney for a real estate partition action in San Diego or anywhere in California? What is a partition action and when should it be considered? What happens when real estate partners can’t agree on what to do with a property?
The basic concept of a partition action is a lawsuit that asks the Court to order the division of the interests in a real estate property, or to force the sale of that asset. The very nature of a partition action requires there to be more than one owner of the property in question.
What Are the Reasons for A Court Order to Divide Up the Interests in a Property?
There are many reasons why these disputes develop. One of the most common isa change in the lives of one of the owners such as credit issues, a pending bankruptcy, divorce, health issues or some other financial need. Another of the common reasons for seeking an attorney for a real estate partition action in
San Diego or anywhere in California is any form of disagreement between the ownership group as to the best strategy for how to manage or dispose of or even use a given piece of property or group of properties.
Inheritance is a challenge for some real estate investment groups. If one of the owners passes and the property is passed through inheritance the new “owner” may wish to simply cash out their interest and move on.
Some real estate investments have hidden challenges that result in expensive additional investment. Unexpected vacancies or repairs can present financial demands one or more partners are unwilling or unable to meet. If the parcel is raw land it is not uncommon for there to be substantial disagreement between owners about the best options for development or improvements on the parcel.
In other cases a partition action is simply the result of personal issues between owners. There are too many reasons to list why business partners and real estate investors develop issues or disagreements within their relationship.
You Need an Experienced Attorney for a Real Estate Partition Action
One fact is clear: you need an experienced attorney for a real estate partition action in San Diego or anywhere in California. It is important to protect your rights as an owner and to preserve the integrity and value of your investment. The partition action is a lawsuit and there will be several twists
and turns along the way.
The Watkins Firm has more than 40 years of experience as real estate attorneys and business lawyers. As business attorneys, we are prepared to manage any issues involving contracts, purchase agreements, buy-sell agreements or even entity creation. We have extensive experience in partition action cases
and work to protect our client’s interests while accomplishing their goals for the dispute. It may surprise you to learn the Watkins Firm is able to resolve the vast majority of our partition action cases through effective, leveraged negotiations. This is the fastest and least expensive path to resolve the
dispute at hand.
Our experienced real estate negotiation strategies apply to any size transaction. It is usually in the best interests of the remaining owners to negotiate a buy-out of the other party’s interest. This can occur early in the process or toward the end after mediation and/or after a “Partition by Appraisal.” This is a complex financial and legal issue and you need the experience and skill of the Watkins Firm to add strength to your side of the equation in a partition action.
We invite you to review our podcast Episode 8 – Real Estate Law Overview as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
