Partition Actions in Corona
Corona is a city located in Riverside County, California, United States. It is situated in the Inland Empire region of Southern California, about 45 miles (72 km) southeast of downtown Los Angeles. The cities of Norco and Riverside lie to the northeast, Chino Hills and Yorba Linda to the west, and the Cleveland National Forest and the Santa Ana Mountains to the southwest. Unincorporated areas of Riverside County line all of its other borders. Corona is a part of the Greater Los Angeles Area. Corona is known for its picturesque views of the Santa Ana Mountains, its historic downtown, and its proximity to the 91 and 15 freeways. The city is home to a variety of businesses, including the Corona Regional Medical Center, Fender Musical Instruments Corporation, and Monster Beverage Corporation. It is also home to the Corona Public Library, the Corona Heritage Park and Museum, and the Eagle Glen Golf Club.
According to Zillow, the median home value in Corona, California is $521,400 as of 2021. As of 2020, the population of the California city of Corona is estimated to be around 161,719.
Experienced Real Estate Partition Action Attorneys Serving Corona
Talkov Law’s attorneys serving Riverside 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:
- Who can file a partition action in California? Generally, any co-owner of real property can file a partition action.
- Can I be forced into selling a jointly owned house? Under California’s Partition of Real Property Act, a co-owner will have a right to buyout the property. However, absent a buy out at the appraised price, a plaintiff will likely be able to force the sale of a jointly owned house.
- How do I file a partition action? Partition actions must be filed in the county where some or all of the co-owned real property is located by way of a partition complaint. While filing the complaint is relatively easy, reaching the end of the partition as quickly and efficiently as possible requires the skill of an experienced partition attorney.
- How long will it take for the plaintiff to receive his or her share of the sales proceeds? Usually, the property is marketed for sale or purchased by the defendant in 3 to 6 months. If a referee is appointed, that may take 6 to 9 months. With proper drafting of an interlocutory judgment of partition by sale, the referee can be required to disburse the proceeds promptly at the close of escrow or shortly thereafter.
- 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.
Cristy v. Spring Valley Water-Works – Partition Action Case Study
In the legal case of Cristy v. Spring Valley Water-Works, 68 Cal. 73 (1885), the issue of partition was at the center of the dispute. The case involved a dispute between two parties over the ownership of a water-works system. The plaintiff, Cristy, claimed that he owned the entire system, while the defendant, Spring Valley Water-Works, argued that it owned a portion of the system. The court had to decide whether the system should be divided into two parts, with each party owning a portion, or whether the entire system should remain under the ownership of one party. The court ultimately decided that the system should be divided into two parts, with each party owning a portion. This decision established the legal precedent that when two parties are in dispute over the ownership of a property, the court may order a partition of the property in order to resolve the dispute.
Contact our Team of Experienced Partition Lawyers Serving the City of Corona in the County of Riverside, California.
Our partition litigation attorneys will work diligently to obtain a favorable outcome on your behalf, whether by negotiation or litigation. Call the experienced real estate partition attorneys at Talkov Law at (951) 888-3300 or contact us online for a free consultation about your co-ownership issues.