Jointly Owned Property Issues in Los Angeles
Our team of partition attorneys in Los Angeles can assist co-owners with frequently asked questions about partitions, such as:
- How long does a partition action take in California?” Most partition actions are complete in 3 to 6 months because most cases settle in either a buyout or agreed sale. However, some cases can drag on for 6 to 12 months.
- How long will it take for the plaintiff to receive his or her share of the sales proceeds? Usually, the property is marketed for sale or purchased by the defendant in 3 to 6 months. If a referee is appointed, that may take 6 to 9 months. With proper drafting of an interlocutory judgment of partition by sale, the referee can be required to disburse the proceeds promptly at the close of escrow or shortly thereafter.
- Who can file a partition action in California? Generally, any co-owner of real property can file a partition action.
- How will the court in a California partition action determine how much each co-owner will receive from the sales proceeds? Generally, each co-owner will receive their fractional interest in the proceeds of sale based on their ownership interests. However, this amount can be enhanced or diminished by partition offsets whereby one co-owner paid more than their fractional interest for property expenses.
- Are there methods to resolve a partition situation without a court-ordered sale? The vast majority of partitions are solved without a court-ordered sale. Many times, the defendant will buy out the plaintiff’s interest. Other times, the parties will agree to a voluntary sale on the open market. However, the filing of the partition action is generally what forces the defendant to see the wisdom of settlement. Under California’s Partition of Real Property Act, a defendant can buy out the interest of the plaintiff at an appraised value, meaning that a court-ordered sale is only likely occur where the defendant simply can’t afford to buy the property but still won’t agree to sell.
Our Palms Partition Attorneys Know Los Angeles County
Highlands Palms is a neighborhood located in the city of Los Angeles, California. It is located in the South Los Angeles region, near the intersection of Vermont Avenue and Manchester Boulevard. The neighborhood is known for its diverse population, with a mix of African American, Latino, and Asian residents. The area is also home to a variety of businesses, including restaurants, shops, and other services. The neighborhood is also home to several parks, including the popular Highland Palms Park, which features a playground, basketball court, and picnic area. The area is also home to several schools, including the Los Angeles Unified School District’s Highland Palms Elementary School.
Palms, California is a neighborhood in the Westside region of Los Angeles. It is a diverse and vibrant community with a variety of real estate options. Single-family homes are the most common type of real estate in Palms. These homes range from small bungalows to large, luxurious estates. Many of these homes feature modern amenities such as swimming pools, outdoor living spaces, and updated kitchens. Apartments and condominiums are also popular in Palms. These units offer a variety of floor plans and amenities, such as fitness centers, pools, and on-site laundry facilities. Townhomes are another popular option in Palms. These homes offer the convenience of a single-family home with the added benefit of shared amenities and maintenance. Commercial real estate is also available in Palms. This includes office buildings, retail stores, and industrial properties. Finally, vacant land is available for those looking to build their own home or business. This land can be used for residential, commercial, or industrial purposes.
Su-Chin Lin Shen v. Wang – Partition Action Case Study
In the legal case of Su-Chin Lin Shen v. Wang, 2010 WL 1613313, B214142 (22-Apr-2010), the partition issues revolved around the ownership of a property located in Los Angeles County, California. The property was owned by the plaintiff, Su-Chin Lin Shen, and the defendant, Wang. The dispute arose when Wang refused to pay his share of the mortgage payments and taxes on the property. The court found that the parties had an implied agreement to partition the property, and that Wang was liable for his share of the mortgage payments and taxes. The court ordered Wang to pay his share of the mortgage payments and taxes, and to reimburse Shen for her share of the payments and taxes that she had already paid. The court also ordered the parties to partition the property, with each party receiving an equal share.
Contact an Experienced Partition Attorney in Palms, California
If you want to end your co-ownership relationship, but your co-owner refuses, a partition action is your only option. Our experienced partition lawyers serving Los Angeles have years of experience ending co-ownership disputes in California and can help you unlock the equity in your Los Angeles County property. For a free, 15-minute consultation with a knowledgeable partition attorney at Partition Lawyer California, call (213) 933-3300 or fill out a contact form online.
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Our partition attorneys in Palms also serve Culver City, Mar Vista, Venice, and West Los Angeles
