Garden Grove Partition Lawyer

Partition Actions in Garden Grove

Garden Grove is a city located in Orange County, California. It is located in the Los Angeles metropolitan area and is bordered by the cities of Anaheim, Santa Ana, and Westminster. Garden Grove is known for its diverse population, its many parks and recreation areas, and its vibrant downtown area. The city is home to a variety of attractions, including the Crystal Cathedral, the Great Wolf Lodge, and the Garden Grove Strawberry Festival. Garden Grove is also home to a number of educational institutions, including the University of California, Irvine, and Chapman University.

According to Zillow, the median home value in Garden Grove, California is $637,400 as of 2021. As of 2020, the population of Garden Grove, California is estimated to be 175,140.

Experienced Real Estate Partition Action Attorneys Serving Garden Grove

Talkov Law’s attorneys serving Orange County are exceptionally experienced in the area of California partition actions. A California partition action is a law that allows co-owners of real property to divide the property among themselves. The partition statutes provide a legal mechanism for co-owners to divide the property without having to go through the court system. The partition statutes also provide a way for co-owners to force the sale of the property if they cannot agree on how to divide it. The partition statutes also set out the procedures for the sale of the property and how the proceeds of the sale will be divided among the co-owners. The partition statutes also provide for the payment of costs associated with the sale of the property.

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

• Will the plaintiff win a California partition action? The plaintiff almost always prevails in a partition. This is because the right to partition is absolute under California law. Most partition actions result in the Defendant agreeing to sell the property or buyout the plaintiff’s interest in the property, which is generally the plaintiff’s goal.
• How will the court in a California partition action determine how much each co-owner will receive from the sales proceeds? Generally, each co-owner will receive their fractional interest in the proceeds of sale based on their ownership interests. However, this amount can be enhanced or diminished by partition offsets whereby one co-owner paid more than their fractional interest for property expenses.
• 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.
• In a partition action, can I be reimbursed for paying more than my fair share of the down payment? Yes, partition actions allow for offsets whereby one co-owner claims excess payments for mortgage, taxes, insurance, improvements, repairs and other property expenses
• 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.