California Code of Civil Procedure 873.920 is the California partition statute that specifies what is required for the manner of partition known as a partition by appraisal. The statute provides that:
The agreement shall be in writing filed with the clerk of court and shall include:
(a) A description of the property.(b) The names of the parties and their interests.(c) The names of the parties who are willing to acquire the interests.(d) The name or names of a person or persons to whose appointment as referee or referees the parties consent.(e) The date or dates as of which the interests to be acquired are to be appraised.(f) Other terms mutually agreed upon which may include, but are not limited to, provisions relating to abandonment of the action if the appraised value of the interest to be acquired exceeds a stated amount, required deposits on account of purchase price, terms of any credit, title and objections to title, and payment of the expenses of the procedure authorized by this chapter and of costs of the action.
The Law Revision Comment from 1976 on this statute states that: “It establishes the framework for the agreement of the parties without, however, providing a fixed form of agreement.” In other words, this statute provides a recommended list of elements to include in a partition by appraisal agreement. Note that these requirements are in addition to the condition that “parties may agree upon a partition by appraisal.” [1]California Code of Civil Procedure 873.910. As a practical matter, a partition by appraisal is very uncommon outside of the Partition of Real Property Act because judicial oversight would not be necessary if the parties agreed to a sale in the first place.
Talkov Law's Partition Attorneys Can Help
If you want to end your co-ownership relationship, but your co-owner won’t agree, a partition action is your only option. With eleven, full time partition lawyers, Talkov Law is the #1 partition law firm in California and has handled over 500 partition actions throughout California. Every case has resulted in a sale to either a third party or one of the co-owners. Not a single court has denied our clients the right to partition or declared our client to be a non-owner. Plus, for qualified cases, there is no fee until we settle or win your case!
If you're looking to end your co-ownership dispute, contact California's premier partition action law firm by calling Talkov Law at (877) PARTITION (727-8484) or sending us a message today.
References
| ↑1 | California Code of Civil Procedure 873.910. |
|---|
