Partition And Exchange Agreement With 3rd Party In Massachusetts
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A petition to partition is a legal action that can be taken by co-owners of property who cannot agree on how to use or manage the property. The petition asks the court to divide the property into separate shares or to sell the entire property and distribute the proceeds among the co-owners.
In Massachusetts, the law on partition is set forth in Chapter 241 of the Massachusetts General Laws. This law allows property owners to end their co-ownership of property by bringing a case in either the Land Court or the Probate and Family Court.
To initiate a petition to partition, one or more co-owners must file a petition with the court that has jurisdiction over the property. The petition must include a description of the property, the names of all co-owners, and a statement of the nature of the disagreement or dispute between the co-owners.
Either of the individuals may also convey their interest without the consent of the other, thereby breaking the “joint” tenancy. In this case, the existing owner will hold title as a tenant in common with the new ownet.
A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. It is sometimes described as a forced sale.
In Massachusetts, the law on partition is set forth in Chapter 241 of the Massachusetts General Laws. This law allows property owners to end their co-ownership of property by bringing a case in either the Land Court or the Probate and Family Court.
Partition is a term used to refer to division of property among co-owners into separate portions. A co-owner of a property may demand partition of the property so that s/he may hold his/her share independently. Generally, there are two types of partitions. They are: partition in kind; and.