Wildomar Partition Lawyer

Partition Actions in Wildomar

Wildomar is a city located in Riverside County, California. It is situated in the foothills of the Santa Ana Mountains, and is bordered by the cities of Murrieta, Temecula, and Lake Elsinore. Wildomar is a relatively new city, having been incorporated in 2008. It is a growing community known for its beautiful views of the surrounding mountains, its many parks and trails, and its close proximity to the Temecula Valley Wine Country. Wildomar is also home to a variety of businesses, including retail stores, restaurants, and medical facilities.

According to Zillow, the median home value in Wildomar, California is $427,400 as of 2021. The population of Wildomar, California is estimated to be 33,945.

Experienced Real Estate Partition Action Attorneys Serving Wildomar

Talkov Law’s attorneys serving Riverside 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:

• 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.
• What are the grounds for a partition action in California? A co-owner is “entitled to partition as a matter of absolute right,” meaning “he need not assign any reason for his demand; that it is sufficient if he demands a severance; and that when grounds for a sale are duly established it may be demanded as of right. To grant it is not a mere matter of grace.” De Roulet v. Mitchel (1945) 70 Cal.App.2d 120, 123-124.
• 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.
• 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.
• 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.