The rise of interest rates that started in mid-2022 is a common concern tor co-owners considering a partition action to end their co-ownership of real property. This is because co-owner buyouts, as are common outcome of a partition action, can be harder to accomplish when the buying co-owner must borrow money at a higher interest … Read More
Utilizing an escrow may prove to be a cost-effective way to complete a co-owner buyout as the resolution to a co-ownership dispute. The role of using an escrow company during a real estate transaction is to facilitate a smooth and secure transactions between co-owners by creating trust through the use of a neutral third-party. This … Read More
No. A common misconception is that a majority of the ownership interests are needed for a court to compel the sale of a jointly-owned property in a partition. This belief is entirely incorrect. Any owner, regardless of their ownership percentage, can initiate the sale of the property, whether they hold 99% or merely 1% of … Read More
One of the most common reasons that a partition action is filed is because a co-owner who was previously in a relationship with their other co-owner now wants to sell the house, but their ex refuses. It’s not uncommon for one property owner to add their soon-to-be spouse to the title of their home in … Read More
A TIC agreement, short for tenants in common agreement, is becoming a popular method for co-ownership in California, often converting a single property into a townhome with multiple units occupied by unrelated co-owners. Popular for decades in San Francisco, the Los Angeles Times recently reported that the trend has headed to LA where developers are … Read More
Whether parties agree or disagree, a co-owner can be removed from title. If the parties reach an agreement, usually involving a payment, a co-owner can transfer their interest by way of a deed. If the parties cannot reach an agreement, a partition action can also remove a co-owner from title. This article explains these options … Read More
Whether your property is subject to a partition action or you are transferring ownership through a public sale, a clear and marketable title is essential for a smooth transfer of ownership. Real estate litigation often arises from disputes over property titles, highlighting the importance of a comprehensive title insurance policy. Property buyers and lenders alike … Read More
Understanding the responsibilities of co-owners can help you protect yourself in cases where negligent ownership causes injuries to your real property. The general legal principle is that co-owners are liable for injuries on jointly owned property regardless of whether the injury is a result of willful actions or lack of ordinary care when managing the … Read More
Transferring ownership of a property is a common occurrence in the world of real estate, whether it be through a sale, gift, or inheritance. When a property is transferred from one owner to another, it is essential to publicly record the change in ownership through a legally binding document known as a deed. This deed … Read More
Many deeds convey an interest to three or more co-owners with no indication of the fractional ownership interest of each co-owner. These deeds raise the question of the relative co-ownership, creating complications when legal issues such as partition actions arise. There are several key factors to look at when a deed is unclear that help … Read More
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