The Definitive Guide to Partition Actions | RMO Lawyers скачать в хорошем качестве

The Definitive Guide to Partition Actions | RMO Lawyers

What is a partition action? A partition action (see California Code of Civil Procedure Section 872.210) is an action taken to divide a real estate property fairly among its co-owners. FULL ARTICLE: https://rmolawyers.com/partition-acti... 0:00 Introduction 0:12 What is a partition action? 0:22 When do I need a partition action? 0:38 How to file a partition action 0:56 Partition action vs. mediation 1:41 What are the pros and cons of a partition action? 2:33 Cost of partition action 2:54 Partition action forms 3:08 Can a partition action be stopped? 3:31 How can I avoid a partition action? 3:54 Affirmative defenses to a partition action 4:09 Do I need a partition action lawyer near me? When do I need a partition action? -- Most people consider a partition action when they want to sell their interest in a property, but the other shared owners do not want to sell and don’t want to pay a fair price. This is typical of siblings who have inherited a real estate property from deceased parents. How to File a Partition Action -- A partition action is filed through the courts, via a Petition for Partition Action. Any partial owner of the property has the right to file for a partition action. Typically, the partial owner will work with an experienced probate lawyer to petition and file the action. Partition Action vs Mediation -- We recommend exploring mediation either prior to or in conjunction with filing a partition action. Often, other partial owners will reconsider their position after discussing options and learning the pros, cons and significant costs of a partition action. For example, a partition action is handled through the courts, which results in court costs and attorney’s fees, as well as and delays, allow which might be avoided through an early mediation. What that means is that in almost all cases the amount of money available for all owners after a partition action will be less than the full value of the real estate property in question. Mediation can help mitigate these costs, likely leaving all parties with more than less. What are the pros and cons of a partition action -- There are upsides and downsides to a partition action. The primary upside is that a partition action breaks a stalemate between disagreeable owners. The primary downside is the cost. PROS The best option when co-owners cannot agree to property sales terms through mediation Some chance of reimbursed costs associated through renovations Potential ability to recoup attorney’s fees and costs CONS Court costs and legal fees Time Frequently, if a property is sold at a forced sale it will be sold for less money than if it were sold at market. Cost of Partition action -- Attorneys fees can vary greatly, depending on the complexity of the litigation involved. Attorney’s fees can range from $20,000 to $100,000+ per defendant or plaintiff. It’s for this reason that we highly recommend mediation to avoid litigation and costly court processes. Do I need a partition action lawyer near me? -- We recommend finding an experienced partition action attorney familiar with the county probate court in the county where the real estate property is located. For example, if the co-owner lives in Miami, yes the real estate property is in Los Angeles, we recommend working with a probate lawyer in Los Angeles. A Los Angeles probate lawyer will generally be more familiar with the Los Angeles Superior Court Probate Division, versus an out of state attorney. How do I choose a partition action attorney? -- At RMO Lawyers, we protect people like you everyday. Contact us anytime for a free consultation. Call us at (424)320-9444 or email us at hello@rmolawyers.com Have questions? At RMO, we protect people like you everyday. Learn more at: https://rmolawyers.com/services/proba... Call (424) 320-9444 or email hello@rmolawyers.com Connect With RMO Lawyers:   / rmo-rahn-muntz-o'grady-llp     / rmolawyers     / probateandtrustlitigators   About RMO Lawyers: RMO LLP serves clients throughout California and Texas, with offices in Los Angeles, Orange County, San Diego, Fresno, Pasadena, the Bay Area, Dallas, and Houston. We are laser-focused on guiding our trustee, executor, beneficiary, heir, conservator, and guardian clients through some of the most complex and emotionally charged issues life can throw them. Our commitment to helping our clients achieve results that not only add to their bottom line but to their peace of mind is at the core of everything we do. That’s RMO.