Joint Tenancy in California
In a joint tenancy, co-owners hold equal shares with a right of survivorship. Here is how joint tenancy is created in California and what happens when it ends.
In a joint tenancy, co-owners hold equal shares with a right of survivorship. Here is how joint tenancy is created in California and what happens when it ends.
Generally, no. Many co-owners feel they should give a heads-up before filing for partition, but warning them in advance usually does more harm than good.
A partition action can decide all conflicting claims between co-owners that arise from their co-ownership, not just whether the property is sold.
A partition action usually takes six to nine months, depending on the circumstances and complexity of the case. Here are the factors that affect timing.
California lets the co-owner who files a partition ask the court to award attorney’s fees and costs against the other co-owners, usually paid from the sale proceeds.
An assumption can let a co-owner keep a low-rate mortgage in a buyout, but it does not release the departing co-owner by itself. The lender, and for a government-backed loan the agency, must approve the buyer and sign a release.
Co-owners often seek reimbursement for repairs and improvements in a partition action. The law favors improvements and may not always allow ordinary repairs to be recovered.
A co-owner may ask the court to appoint a receiver during a partition action. Here is when that happens and how a receiver differs from a partition referee.
Parties in litigation are often tempted to talk directly, believing the lawyers are causing the conflict. Here are the risks and when direct communication can help.
No. Waiving the right to partition is rare and cannot happen by accident, because California law strictly limits waivers of a co-owner’s rights.