Partition Explained In Virginia
Instant download
Description
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.
Free preview
Form popularity
More info
Article 9. Partition. Essentially, anyone with a vested ownership interest in real estate may file suit to compel a partition.A partition action enables you to force the sale of property when coowners are refusing to sell. A partition lawsuit provides a legal remedy for coowners seeking a fair division or sale of jointlyowned property when an amicable resolution is not possible. In an allotment action, the one owner simply buys out another's ownership in the property through a court-ordered allotment. 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. Partition outcomes depend partly on property layouts and local real estate dynamics. The deed resulting from a partition suit is a deed of partition subject to the 50 cent recordation tax under Va. Code §58.1806. Partition suits are legal proceedings aimed at resolving disputes between coowners of real property. When two or more owners cannot agree on the disposition of the property in question, any of the owners can file a partition action in the appropriate court.