California Code of Civil Procedure 873.830 is the California partition statute that authorizes setoff instead of payment. The statute provides that:
Where a part only of the property is sold, a tenant for life or years in an undivided share of the whole property may have his estate equitably set off in any part of the property not sold by way of complete or partial satisfaction of his share of the proceeds.
California Code of Civil Procedure 873.830
In other words, “A right to proceeds based on an estate for life or for years may be wholly or partially satisfied by an equitable setoff in a part of the property not sold.” Disposition of Proceeds., 12 Witkin, Summary 11th Real Prop (2021) § 80.
Subsection (a) of the California Code of Civil Procedure 873.840 states that “The court shall ascertain the proportion of the proceeds of sale that will be a just and reasonable sum for the satisfaction of the estate of a tenant for life or years and shall order such amount distributed to him or held for his benefit.”
California Code of Civil Procedure 872.210 authorizes “An owner of an estate of inheritance, an estate for life, or an estate for years in real property where such property or estate therein is owned by several persons concurrently or in successive estates” to commence or maintain a partition action. Cal. Code Civ. Proc. 872.210 (a)(2) Therefore, a life estate holder is statutorily authorized to either commence or maintain a partition action.
Furthermore, “When partition of successive estates is appropriate but hardship might result from a sale and division of the proceeds, the court may establish a trust of the proceeds for the benefit of the successive interest holders.” Code Civ. Proc., § 873.840, subd. (c). See In re Giacomelos’ Estate, 192 Cal. App. 2d 244, 246–251, 13 Cal. Rptr. 245 (1st Dist. 1961).” § 12:24. Termination; merger; partition, 4 … Continue reading
Contact an Experienced Partition Attorney in California
If you want to end your co-ownership relationship, but your co-owner won’t agree, a partition action is your only option. Our knowledgeable partition lawyers have years of experience ending co-ownership disputes and can help you unlock the equity in your property. For a free, 15-minute consultation with an experienced partition attorney at Talkov Law, call (844) 4-TALKOV (825568), email us at info(at)talkovlaw.com, or fill out a contact form online. Contact Talkov Law today to find out how you can pay nothing today and have your legal fees paid from the proceeds of sale of your property!
|↑1||Disposition of Proceeds., 12 Witkin, Summary 11th Real Prop (2021) § 80.|
|↑2||Cal. Code Civ. Proc. 872.210 (a)(2)|
|↑3||Code Civ. Proc., § 873.840, subd. (c). See In re Giacomelos’ Estate, 192 Cal. App. 2d 244, 246–251, 13 Cal. Rptr. 245 (1st Dist. 1961).” § 12:24. Termination; merger; partition, 4 Cal. Real Est. § 12:24 (4th ed.)|