California Code of Civil Procedure 874.030 is the California partition statute that addresses the interest rate on disbursements in a partition action. The statute provides that:
Where disbursements have been made by a party under the direction of the court, interest at the legal rate shall be allowed thereon from the time of making such disbursements.
California Code of Civil Procedure 874.030
While parties often argue about partition offsets involving unequal payments for the property before a case is filed, this statute relates to unequal payments for the property after the case is filed. Perhaps the court orders one party to pay the taxes and orders that the party will be reimbursed with interest.
Law Revision Commission Comments to California Code of Civil Procedure § 874.030
In 1976, the California Law Revision Commission explained California Code of Civil Procedure § 874.030 as follows:
Section 874.030 continues the substance of former Section 801.
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If you want to end your co-ownership relationship, but your co-owner won’t agree, a partition action is your only option. With six, full time partition lawyers, Talkov Law is the #1 partition law firm in California and has handled 250 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 (844) 4-TALKOV (825568) or sending us a message today.
