Co-Owner Buyouts Archives

Should I Stay on the Mortgage of a Co-Owned House?

Co-owning a home can be a practical solution to rising housing costs, but when circumstances change and you want to sell your partial interest in the property, it raises the question: should you agree to stay on the mortgage or should you be removed from the mortgage? This decision requires careful consideration of several factors … Read More

Why is a Partition Action Needed?

A partition is often necessary because joint property ownership can swiftly transform from harmonious cohabitation to contentious disputes. Whether it’s the dissolution of a romantic partnership, irreconcilable differences in investment strategies, or disagreements over property usage, many co-owners find themselves looking for ways to end their co-ownership of real property. In such scenarios, where one … Read More

My Co-owner Asked for Partition by Sale. Can I Buy Out my Co-owner?

Yes, California Code of Civil Procedure 874.317 is the California partition statute that sets forth the manner in which a co-owner of property can buy out the interests of the other co-owners who requested a sale in a partition action. The purchase price for the buy out under the Partition of Real Property Act is based on … Read More

Can I Remove My Former Fiancé(e) From the Title of My Property?

Separating from a partner is a difficult position but it is even more complex when an unmarried couple separates after purchasing a property together. Unfortunately, this scenario is common enough that nearly half of all partition cases involve unmarried couples. Depending on whether the goal of a co-owner is to force the sale of the … Read More

What does the appraiser value under the Partition of Real Property Act

Appraisals of Fair Market Value under the Partition of Real Property Act – Code of Civil Procedure 874.316(d)

While the public may believe there is only one way to appraise a property, many co-owners end up in a debate with the court over the parameters of a proper valuation under the Partition of Real Property Act. “Fair Market Value of the Property” is to be Determined under the Partition of Real Property Act … Read More

Do I Have to Sue my Family Member with Partition Action to Obtain my Share of the Inherited Property

Do I Have to Sue my Family Member to Obtain my Share of the Inherited Property?

It is common for family dynamics to be strained after inheriting real estate because many co-owners are unable to agree on how to manage the property. A co-owner may want to move into the property despite only inheriting 50% and the other co-owners, each holding 25% may want to sell the property and take the … Read More

Rising Interest Rates #1 Issue in Partitions

Rising Interest Rates on Co-Owner Buyouts in a Partitions

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

Should I Use an Escrow for my Co-owner Buyout?

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

Can a Co-Owner Buy the Property in the Partition Action?

Yes. While co-owners have the opportunity to purchase each other’s shares, navigating this path can introduce potential disputes and requires adherence to specific state laws and court procedures aimed at co-owners seeking to acquire interests. Exploring the feasibility of a co-owner purchasing property in a partition action merges legal intricacies and strategic considerations within the … Read More