A partition action is a legal action you can take when you feel your separation from your spouse or partner will not be amicable. Partition is a legal term that refers to the breaking up of a joint estate.
Partition actions are especially important for married couples who feel the separation process will not be smooth. People usually seek a legal adviser when they want their properties and settlements finalized in a protective environment.
Are you asking: How long does a partition action take? Read on to learn all about it!
18 to 24 Months
A partition action is a legal process used to divide a piece of land between two parties when ownership is disputed. The process can take anywhere from 18 to 24 months to be completed. It depends on the complexity of the situation.
Factors such as negotiations, appraisals, and surveys must be conducted before an agreement can be reached. The parties must also resolve any outstanding issues involving titles and mortgages relating to the land. All of these processes can take considerable amounts of time, thus resulting in a lengthy process.
You must be guided by an attorney to know about these legal actions and to determine if you have the right to recover attorneys fees. Therefore, it is not uncommon for a partition action to span anywhere from 18 to 24 months from start to finish.
Types of Partition Actions
Not all partition action cases brought before the court can rely on the same resolutions. The legal system has instead created a variety of partition action processes:
Partition in Kind
Partition in kind is a type of partition action when the property being divided is split into different pieces. This type of partition process is usually used when the property is something that is not easily divided, such as land or a business. With partition in kind, a mediator or judge steps in to decide how the property should be divided, with each party getting an equal share.
Partition by Sale
An agreed-upon or court-ordered third-party broker or receiver appraises the property and lists it for sale. Following the deduction of fees and expenses, the revenues from the sale of the property are allocated to the individual owners in accordance with their proportional ownership shares.
Partition by Appraisal
Occurs when two joint owners wish to “buy out” the other owners and acquire sole possession of a property, but they cannot agree on a price. In such a situation, the “selling” parties will be compensated financially for their respective shares, which will once more be determined by the property’s valuation as determined by an agreed-upon or court-appointed third-party assessor and once again after fees and expenses are taken into account.
Knowing How Long Does a Partition Action Take
Generally, a partition action takes, on average, eighteen to twenty-four months to resolve. It is important to talk to a qualified attorney about a possible partition action. An experienced attorney can help you to know how long does a partition action take.
And provide legal advice tailored to your situation and help efficiently manage the process. If you believe a partition action is the best solution to your problem, call us today to discuss your legal options.
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