Pasadena Partition Lawyer

Partition Actions in Pasadena

Pasadena is a city in Los Angeles County, California, United States. It is located 10 miles (16 km) northeast of Downtown Los Angeles. Pasadena is the ninth-largest city in Los Angeles County. Pasadena was incorporated on June 19, 1886, becoming one of the first cities to be incorporated in what is now Los Angeles County, following the city of Los Angeles (April 4, 1850). It is one of the primary cultural centers of the San Gabriel Valley. Pasadena is known for its history and grandeur. The city is home to the renowned California Institute of Technology (Caltech), the Pasadena Playhouse, the Norton Simon Museum of Art, the Rose Bowl, and the annual Tournament of Roses Parade and Rose Bowl Game. It is also home to many scientific and cultural institutions, including the Jet Propulsion Laboratory (JPL), the Pasadena City College, Fuller Theological Seminary, ArtCenter College of Design, the Pasadena Symphony Orchestra, the Pasadena Pops Orchestra, and the Pacific Asia Museum.

According to Zillow, the median home value in Pasadena, California is $817,400. The population of the Pasadena, California area is estimated to be 142,059.

Experienced Real Estate Partition Action Attorneys Serving Pasadena

Talkov Law’s attorneys serving Los Angeles 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 allow co-owners to divide the property either by agreement or by court order. If the co-owners cannot agree on how to divide the property, then the court will divide the property in a way that is fair and equitable to all parties. The partition statutes also provide that any partition of the property must be in accordance with the laws of the state of California. The legal effect of the partition statutes is that it provides a legal mechanism for co-owners to divide their property without having to go through the court system.

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

• 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.
• How to force the sale of jointly owned property? A partition action is the only statutory method to ensure the end of the co-ownership dispute.
• 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 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.
• How does a partition action work in California?