Partition Agreement Of Property In Utah
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This Partition Agreement is an Agreement for the Partition and Division of Real Property. This is a Voluntary agreement to partition and divide real property. This Agreement can be used in any state. This Agreement is to be signed in front of a notary public.
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Section 1201, Partition -- By cotenants of real property. Section 1202, Complaint -- To set forth interests of all parties.A partition action enables you to force the sale of property when coowners are refusing to sell. Another possible solution when owners are not equally caring for real property is to divide the real property. This page explains how property is divided in a divorce, including real estate, personal property, and retirement accounts. A petition to partition usually results in a physical split of the property or the property is sold and the proceeds split among the co tenants. Utah has adopted the Uniform Partition of Heirs Property Act which will take effect on May 4, 2022. The legislation will especially benefit Utah families. Real estate partition is an involved and expensive process. When two or more people own the same property, one of the owners CAN force a sale of the jointly owned property via a partition action or lawsuit.