Attorneys Stephen Korshak and Lee Karina Dani

Florida real estate sale: Co-owned property

by | Mar 11, 2016 | Real Estate Transactions |

There are various reasons why two or more people will want to put money toward buying a piece of real estate together in Florida or elsewhere. If you are in this type of situation, do not forget to make sure that your portion of the investment is legally protected. An experienced real estate attorney can help with the many different aspects of a partition real estate sale or purchase.

Going in on a real estate purchase can be a great financial move. People often do this for investment purposes or business ventures, or the purchasers may be couples just wanting to buy homes. When it comes time to sell the property, certain steps may need to be taken that go beyond a typical real estate sale. To learn more, please visit our firm’s partitions webpage.

Problems can accompany co-owning properties. It is not uncommon for owners to disagree on property management, the sale of the property or various other concerns. In such cases, legal actions are sometimes needed to resolve the issues. A partition lawsuit can be filed when one owner wishes to force a sale and split any proceeds. An attorney can go over all of your options with you and help you pursue the best course of action for your specific circumstances.

Co-owning property, whether in Florida or elsewhere, has both positive and negative points. When the time comes for a partition real estate sale, having an attorney on your side may be in your best interest. With help, co-owners can walk away from their real estate receiving fair value for their portions and relieved of any further legal responsibilities regarding the properties.