South Gate Partition Lawyer

Partition Actions in South Gate

South Gate is a city located in the southeastern region of Los Angeles County, California. It is bordered by the cities of Lynwood to the north, Downey to the northwest, Bell to the southwest, and Huntington Park to the south. The city is known for its diverse population and vibrant culture. South Gate is home to a variety of attractions, including the South Gate Park, the South Gate Recreation Center, and the South Gate Library. The city is also home to a number of restaurants, shops, and entertainment venues. South Gate is a great place to live, work, and play.

According to Zillow, the median home value in South Gate, California is $521,400 as of 2021. The population of South Gate, California is 94,396.

Experienced Real Estate Partition Action Attorneys Serving South Gate

Talkov Law’s attorneys serving Los Angeles 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 feasible, 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:

• 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.
• What happens to any debts or liens on the property during a partition action? Secured debts are paid from the sale of the property. Secured lenders named in a partition action are generally dismissed with an agreement to pay the mortgage at the time of the sale.
• Will there be a trial in a California partition action? Trials are extremely rare in partition actions because the interlocutory judgment procedure allows for a partition referee to be appointed by meeting just a few elements that rarely involve live testimony from witnesses. Even if a trial occurred, it would almost certainly relate only to the ownership interests or the distribution of proceeds, though most cases are decided on motion heard by the court based on the papers submitted by the parties.
• 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.
• 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.