Experienced Partition Attorneys Serving Palo Alto
Talkov Law’s attorneys serving Santa Clara 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 awarding each co-owner a certain percentage of the property’s value. The court will then order the property to be divided according to the co-owners’ wishes. The partition statutes also provide that if the court finds that a physical division of the property is not possible, it may order the property to be sold and the proceeds divided among the co-owners.
Our team of partition attorneys can assist co-owners with frequently asked questions about partitions, such as:
- What is recoverable in a partition action? “In a suit for partition it is a general rule that all equities and conflicting claims existing between the parties and arising out of their relation to the property to be partitioned may be adjusted.” Demetris v. Demetris (1954) 125 Cal. App. 2d 440. This means that co-owners can assert offsets or recover payments of the mortgage, taxes, insurance, repairs and improvements in excess of their fractional interests.
- What are the potential outcomes of a partition action? The most likely outcome in a partition action is that the plaintiff receives fair value for their interest in the property either through a sale to a third party or to the defendant. In rare cases, a property can be divided, through this is not applicable to single family residences with no surplus land.
- 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.
- 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.
- How will the property be divided if a partition action is successful? In most partition actions, the property will be sold, rather than being divided. If the property is eligible for partition in-kind, the court can appoint a referee to prepare a report on dividing the property in a manner that does not damage the value of the fractional interests.
Speak to Our Palo Alto Partition Attorneys Today
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Partition Actions in Palo Alto
Partitions are quite common in Palo Alto. According to Zillow, the median home value in Palo Alto, California is $2,945,000. As of 2020, the population of the California area of Palo Alto is estimated to be 67,890.
Palo Alto is a city in the San Francisco Bay Area of California. It is located in the heart of Silicon Valley and is home to many of the world’s leading technology companies, including Hewlett-Packard, Tesla, and Google. Palo Alto is known for its excellent schools, vibrant culture, and beautiful natural surroundings. The city is also home to Stanford University, one of the world’s leading research universities. Palo Alto is a great place to live, work, and play, offering a variety of activities and attractions for all ages.
Long v. Dollarhide – Partition Action Case Study
In the legal case of Long v. Dollarhide, 24 Cal. 218 (1864), the issue was whether a partition of land between two co-owners was valid. The court found that the partition was invalid because it was not made in good faith. The court held that a partition must be made in good faith and with the intention of dividing the land equally between the co-owners. The court also held that a partition must be made with the intention of dividing the land in a manner that is fair and equitable to both parties. The court found that the partition in this case was not made in good faith and was not fair and equitable to both parties.
Contact our Team of Experienced Partition Lawyers Serving the City of Palo Alto in the County of Santa Clara, 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 (650) 999-3300 or contact us online for a free consultation about your co-ownership issues.
Our partition attorneys in Palo Alto, California serve Santa Clara County and surrounding areas including Mountain View, Menlo Park, Redwood City, Los Altos, Sunnyvale, Cupertino, Stanford, Atherton.