Pico Rivera Partition Lawyer

Partition Action Attorneys in Pico Rivera

Pico Rivera is a city located in southeastern Los Angeles County, California, United States. The city is situated approximately 11 miles (18 km) southeast of downtown Los Angeles, on the eastern edge of the Los Angeles basin. Pico Rivera is known for its strong sense of community and its diverse population. The city is home to a variety of businesses, including manufacturing, retail, and service industries. It is also home to several parks, a golf course, and a variety of recreational activities. Pico Rivera is a great place to live, work, and play.

Talkov Law’s attorneys serving Los Angeles County are exceptionally experienced in California partition actions and have conducted over 370 successful partitions for our satisfied clients. 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 types of properties can be subject to a partition action in California? All co-owned real or personal property can be partitioned under California law. Cal. Civ. Proc. Code § 872.020.
• 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 a partition referee? A partition referee is a neutral third party, often times a lawyer or real estate broker, who completes the sale for the co-owners under court authority. The referee is then paid for their services either on an hourly, flat fee, or commission basis, and is relieved by the court of their duties in the case.
• 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.
• Can I be forced into selling a jointly owned house? Under California’s Partition of Real Property Act, a co-owner will have a right to buyout the property. However, absent a buy out at the appraised price, a plaintiff will likely be able to force the sale of a jointly owned house.