Partition Actions in Los Alamitos
Los Alamitos is a small city located in Orange County, California. It is situated between the cities of Long Beach and Cypress, and is part of the Los Angeles metropolitan area. The city is known for its small-town charm and its proximity to the beach. It is home to Los Alamitos Race Course, a popular horse racing track, and the Los Alamitos Joint Forces Training Base, a military base. The city is also home to a variety of parks, shopping centers, and restaurants. Los Alamitos is a great place to live for those looking for a quiet, suburban lifestyle.
According to Zillow, the median home value in Los Alamitos, California is $845,000 as of 2021. As of the 2020 United States Census, the population of the city of Los Alamitos, California was 11,449.
Experienced Real Estate Partition Action Attorneys Serving Los Alamitos
Talkov Law’s attorneys serving Orange 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 a partition action and when is it necessary?
- Can a partition action be filed for both real property and personal property in California? Yes, all co-owned real and personal property can be partitioned under California law. Cal. Civ. Proc. Code § 872.020.
- What happens to any debts or liens on the property during a partition action? Secured debts are paid from the sale of the property. Secured lenders named in a partition action are generally dismissed with an agreement to pay the mortgage at the time of the sale.
- 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.
- Are there methods to resolve a partition situation without a court-ordered sale? The vast majority of partitions are solved without a court-ordered sale. Many times, the defendant will buy out the plaintiff’s interest. Other times, the parties will agree to a voluntary sale on the open market. However, the filing of the partition action is generally what forces the defendant to see the wisdom of settlement. Under California’s Partition of Real Property Act, a defendant can buy out the interest of the plaintiff at an appraised value, meaning that a court-ordered sale is only likely occur where the defendant simply can’t afford to buy the property but still won’t agree to sell.
Cummings v. Cummings – Partition Action Case Study
In the legal case of Cummings v. Cummings, 2016 WL 7077611, H040710 (23-Nov-2016) , the partition issues revolved around the division of a family-owned property. The property in question was owned by the parties’ parents, who had passed away. The parties had agreed to divide the property, but the agreement was not properly documented. The court had to determine how to divide the property in a fair and equitable manner. The court also had to consider the parties’ respective interests in the property, as well as the potential for future disputes between the parties. The court ultimately determined that the property should be divided in a manner that was fair and equitable to both parties.
Contact our Team of Experienced Partition Lawyers Serving the City of Los Alamitos in the County of Orange, 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 (562) 600-3300 or contact us online for a free consultation about your co-ownership issues.
4000 MacArthur Blvd Ste 655
Newport Beach, CA 92660
Phone: (949) 888-8800