Among the more creative arguments in partition action cases is the idea that one co-owner should pay the capital gains taxes of the other co-owner. When co-owned property is sold, especially in a partition action, disputes often arise over who gets what, known as a partition accounting. Usually, these claims about accounting relate to unequal … Read More
Owning real estate in California can create significant financial opportunity — and significant tax complexity. Whether the property is a residence, rental, inherited asset, or co-owned investment, multiple layers of taxes may apply at different stages of co-ownership. For co-owners in particular, taxes often become critically important when a dispute arises, a buyout is negotiated, … Read More
Partition actions often result in the sale of co-owned property, leaving the court to determine how the proceeds should be distributed among the co-owners. For co-owners interested in reinvesting their share of the proceeds into like-kind property via a 1031 exchange, complications arise when the court or referee holds the funds beyond the sale’s closing … Read More
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