Partition Actions in Nevada County
Nevada County is a county located in the Sierra Nevada region of California. It is located in the northeastern part of the state, and is bordered by Placer County to the north, Sierra County to the east, Yuba County to the south, and Placer and El Dorado counties to the west. The county seat is Nevada City. The county has a total area of 974 square miles, and a population of 98,764 as of the 2010 census. Nevada County is known for its Gold Rush history, and is home to many historic sites, including the Empire Mine State Historic Park, the North Star House, and the Nevada City Firehouse Museum. The county is also home to several ski resorts, including Sugar Bowl, Boreal Mountain Resort, and Soda Springs. Nevada County is a popular destination for outdoor recreation, with many trails, lakes, and rivers for hiking, camping, fishing, and other activities.
According to Zillow, the median home value in Nevada County, California is $420,000 as of 2021. As of July 1, 2019, the population of Nevada County, California was 98,764.
Experienced Real Estate Partition Action Attorneys Serving Nevada County
Talkov Law’s attorneys serving Nevada 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:
- Can a minority owner force the sale of a property? There is no requirement for a majority vote for partition. Rather, an co-owner of any interest in property can force 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.
- Can a Trust File a Partition? Yes, a trust can file a partition action as the co-owner of real property in California.
- 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.
- How long will it take to get the property partitioned and sold? Most commonly, 3 to 6 months is all that it takes for the defendant to agree to a sale or buyout the plaintiff’s interest in the property for a fair value. Some cases may take 6 to 12 months.
Speak to Our Nevada County Partition Attorneys Today
Call our Nevada County Partition Attorneys today to end your co-ownership dispute. You don’t pay until the house is sold!
Call us at (530) 999-5588 or contact us below to schedule a free, 15-minute consultation
Gwinn v. Commissioner of Internal Revenue – Partition Action Case Study
In the legal case of Gwinn v. Commissioner of Internal Revenue, 54 F.2d 728 (1932), the issue was whether a partition of a family farm between two brothers constituted a taxable event. The brothers had inherited the farm from their father and had agreed to divide it into two parts. The Commissioner of Internal Revenue argued that the partition constituted a taxable event, as it was a transfer of property from one brother to the other. The court disagreed, ruling that the partition was not a taxable event, as it was merely a division of the property between the two brothers, and not a transfer of property from one to the other.
Contact our Team of Experienced Partition Lawyers Serving the Nevada County County in the County of Nevada, 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 (530) 999-5588 or contact us online for a free consultation about your co-ownership issues.