Compton Partition Lawyer

Partition Actions in Compton

Compton is a city in southern Los Angeles County, California, United States, situated south of downtown Los Angeles. Compton is one of the oldest cities in the county and on May 11, 1888, was the eighth city to incorporate. It is known as the “Hub City” due to its geographic centrality in Los Angeles County. Neighborhoods in Compton include Sunny Cove, Leland, Downtown Compton, and Richland Farms. The city is generally a working class community, with some middle-class neighborhoods, and is home to a relatively young population, at an average 25 years of age, compared to the American median age of 38.

According to Zillow, the median home value in Compton, Los Angeles County, California is $400,000. As of the 2020 United States Census, the population of Compton, California is 96,455.

Experienced Real Estate Partition Action Attorneys Serving Compton

Talkov Law’s attorneys serving Los Angeles County are exceptionally experienced in the area of California partition actions. California partition actions provide a legal mechanism for co-owners of real property to divide the property among themselves. The partition statutes allow a co-owner to file a lawsuit in court to have the property divided, either physically or by sale. The court will then order the division of the property in a way that is fair and equitable to all parties. The partition statutes also provide that any proceeds from the sale of the property must be divided among the co-owners in proportion to their respective interests in the property.

Our team of partition attorneys can assist co-owners with frequently asked questions about partitions, such as:

• What is recoverable in a partition action? “In a suit for partition it is a general rule that all equities and conflicting claims existing between the parties and arising out of their relation to the property to be partitioned may be adjusted.” Demetris v. Demetris (1954) 125 Cal. App. 2d 440. This means that co-owners can assert offsets or recover payments of the mortgage, taxes, insurance, repairs and improvements in excess of their fractional interests.
• Can I still file a partition if my co-owner has filed for bankruptcy? Yes, the partition action can generally be filed in the bankruptcy court or the bankruptcy court can apply state partition law to allow offsets when the co-owned property is sold by the bankruptcy trustee.
• What are the tax implications of a partition action? It is best to seek the advice of a tax attorney or CPA about tax issues. However, the most common tax issues in partitions, like other sales, can involve capital gains taxes and the potential partial or full reassessment of property taxes.
• Will there be a trial in a California partition action? Trials are extremely rare in partition actions because the interlocutory judgment procedure allows for a partition referee to be appointed by meeting just a few elements that rarely involve live testimony from witnesses. Even if a trial occurred, it would almost certainly relate only to the ownership interests or the distribution of proceeds, though most cases are decided on motion heard by the court based on the papers submitted by the parties.
• What are the costs associated with a partition action? The costs of a partition action generally involve the attorney’s fees, and court costs, but can involve referee fees and broker’s fees if the property is sold.