San Francisco Partition Lawyer

Partition Actions in San Francisco

San Francisco is a vibrant and diverse city located in Northern California. It is known for its iconic landmarks, such as the Golden Gate Bridge, Alcatraz Island, and the cable cars. It is also home to a thriving tech industry, with many tech companies based in the city. San Francisco is a popular tourist destination, with its many attractions, restaurants, and cultural events. The city is also known for its progressive values, with a strong focus on social justice and environmental sustainability.

According to Zillow, the median home value in San Francisco, California is $1,323,400 as of 2021. As of 2019, the population of the San Francisco metropolitan area was estimated to be 4,729,484.

Experienced Real Estate Partition Action Attorneys Serving San Francisco

Talkov Law’s attorneys serving San Francisco 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 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 long does a partition action take in California?” Most partition actions are complete in 3 to 6 months because most cases settle in either a buyout or agreed sale. However, some cases can drag on for 6 to 12 months.
• Can heirs force the sale of property? Heirs can force the sale of real property in California once that property is distributed to them. However, sometimes, the property is still held in a trust where the trustee will sell the property. When there is no trust, the probate court may decide that the probate administrator will sell the property before it is distributed in fractional interests to the heirs.
• What are the costs associated with a partition action? The costs of a partition action generally involve the attorney’s fees, and court costs, but can involve referee fees and broker’s fees if the property is sold.
• Can you lose interest in a jointly owned home by moving out? Generally, co-owners maintain their ownership interests regardless of whether they live at the property. However, in rare cases, leaving the property for many years without paying taxes or other expenses may allow the co-owners in possession to argue that they have adversely possessed the property. Generally, these co-ownership disputes do not get easier with time, so it is important to act promptly.