Joining with co-owners for a jointly owned property may have seemed like a good idea at the time. When circumstances change, you may not agree with your business partners on how to use, manage, or sell this piece of real estate.
Choose a Philadelphia lawyer at Stoner Law to help you with partitions actions and get the effective resolution needed for issues related to these types of disputes. Our comprehensive knowledge of Pennsylvania property laws and client-tailored legal guidance help you uphold your best interests when this action is needed for joint ventures.
Introduction to Partitions Actions in Real Estate Litigation
A partition action is part of real estate litigation in terms of commercial property, where a lawsuit can be filed by a co-owner to terminate a joint ownership of property. When none of the parties can reach an agreement on what to do with land or real property, this action allows severing ties and dividing the property or its value amongst the parties.
Understanding Real Estate Disputes and Their Legal Implications
This form of separation may be needed in real estate litigation, as disputes tend to arise over management and what to do with commercial leases and other decisions. Many of these disputes also involve issues with a lack of financial contributions from one or more of the owners. Almost all of them involve an inability to communicate effectively with one another.
When a co-owner has been the only one paying for all the expenses, such as the mortgage on the real estate property, making repairs, and investing their own money without help from the other parties involved, they may be able to recover those costs from the sale. A partition action can force uncooperative owners to communicate and negotiate. A court-ordered resolution may be needed to resolve such disputes, and an attorney can help bring it to fruition.
The Legal Process for Partition Actions in Philadelphia
Under the umbrella of real estate litigation, there are a variety of ways to resolve problems among fellow owners through dispute resolution. With the help of an attorney, you can begin by filing a petition for your lawsuit with the court. You will state your claims, and your attorney will work on your behalf to find a fair ownership solution.
Once filed, the court will assign an independent professional to appraise the property to determine its value. After that, mediation and negotiations may be suggested to avoid litigation in the courtroom. The contract may be broached by a partition in kind, which requires dividing the property into separate parts, or by appraisal, when an owner purchases it out of the hands of the others at the appraised value. It can also be ordered sold, particularly if there is continued refusal to cooperate, and all the proceeds would then be split in a fair way among all involved.
When the final judgment is issued, all parties must abide by the decision made to resolve the dispute at hand. While it is always best for partners to agree, when no resolution is found, this type of real estate litigation can put an end to the turmoil and help everyone move forward.
Benefits of Hiring a Philadelphia Real Estate Partitions Action Attorney
All matters of real estate litigation can be complicated in Philadelphia, from foreclosure defense to adverse possession. When you choose an attorney who works in all areas of Philadelphia real estate, you can count on their legal expertise to guide you through the complex labyrinth of procedural rules, especially when partition actions are involved.
Your attorney will work to iron out disputes through mediation and negotiation to come to an agreement through settlements first, all while ensuring the property’s value has been accurately assessed. Protecting your legal rights and best interests is the ultimate job, and at Stoner Law, we work to represent clients fairly and fight for the most favorable outcome.
Our Approach to Handling Partitions Actions at Stoner Law
At Stoner Law, we handle partition actions by guiding our clients on how to handle co-owned real estate. Every situation is unique, and we tailor a bespoke approach to each case. Contact us today to get a free initial consultation to see the light at the end of the tunnel of your co-ownership woes.
