Lynwood Partition Lawyer

Partition Actions in Lynwood

Lynwood is a city located in Los Angeles County, California. It is located in the Gateway Cities region of southeastern Los Angeles County, just south of the city of Compton. Lynwood is a predominantly Latino city with a population that is over 90% Hispanic. The city is known for its low crime rate and its proximity to Los Angeles International Airport, the Port of Los Angeles, and the Long Beach Airport. The city is also home to several parks, including Lynwood Park, which features a playground, basketball courts, and a skate park.

According to Zillow, the median home value in Lynwood, California is $420,000. As of the 2020 United States Census, the population of Lynwood, California is 73,717.

Experienced Real Estate Partition Action Attorneys Serving Lynwood

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 the timeline for a California partition action? Most partition actions are resolved in 3 to 6 months by way of settlement. Other cases can take 6 to 12 months to obtain an interlocutory judgment of partition, which generally appoints a referee to sell the property.
• 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.
• What is California’s Partition of Real Property Act? Effective January 1, 2023, California’s new partition law allows defendants to buy out the interests of the plaintiff at an appraised value.
• Can a partition action be stopped? Generally, a partition action cannot be stopped, but a defendant may be able to buy time to seek a resolution. Eventually, however, the plaintiff can generally force the sale of the property based on the absolute right to partition.
• Who pays for a partition action? In California, each party typically pays for their own attorney’s fees (known as the “American Rule”). However, California partition law allows for an exception to this rule, stating that “the court shall apportion the costs of partition among the parties in proportion to their interests or make such other apportionment as may be equitable.” California Code of Civil Procedure 874.040. Indeed, the court may award “reasonable attorney’s fees incurred or paid by a party for the common benefit.” California Code of Civil Procedure 874.010(a).