When Is A Partition Proceeding Right For Me?
Real estate continues to be a popular option for investors, whether it’s two friends going in together to fix up a house to sell for a modest profit, or a large group looking to pool assets to purchase a string of commercial properties. While the allure of getting into real estate in this way is enticing, many people don’t think about what might happen when they want to exit the venture.
The real estate lawyers at Korshak & Associates in Orlando can provide advice for people or organizations that are selling a property and want to divide the proceeds. If all parties agree on the terms, it may be a relatively straightforward event. Sometimes, however, the parties are unable to come to an agreement on the sale.
When this happens, a specific type of lawsuit known as a partition action is undertaken by one of the co-owners so that a court can rule on the matter. Whether you are the co-owner taking this action or are one of the owners who is named in the suit, having an attorney representing you in a partition proceeding is crucial.
We will advocate for your rights and your fair share of the property’s value. We can also work to maximize the sale proceeds by having the sale done privately, rather than a judicial auction, in many cases.