Partition Settlement Agreement With Sale In Virginia
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FAQ
If you and your siblings inherit family property but can't agree on the property's management or sale, partition is the legal process to secure a resolution. Partition can also be a solution when unmarried property owners no longer want to stay together but are unable to manage jointly owned property.
Notwithstanding any other provision of law, a writ of eviction not executed within 30 days from the date of issuance shall be vacated as a matter of law without further order of the court that entered the order of possession, and no further action shall be taken by the clerk.
Final judgment. When final judgment is rendered on the trial of such detinue proceeding, the court shall dispose of the property or proceeds ing to the rights of those entitled.
In short, to force the sale of jointly owned property, you must first confirm title, then attempt a voluntary sale or buyout, file and serve a partition lawsuit, get an appraisal, sell the property, and finally divide the sale proceeds fairly.
To initiate a partition lawsuit in Virginia, a co-owner must file a complaint in the circuit court of the city or county where the property is located. The complaint should outline the details of the co-ownership, the nature of the dispute, and the requested relief (division or sale).
Accounting in equity. An accounting in equity may be had against any fiduciary or by one joint tenant, tenant in common, or coparcener for receiving more than comes to his just share or proportion, or against the personal representative of any such party.
Any court having general equity jurisdiction has jurisdiction in cases of partition, and in the exercise of such jurisdiction, shall order partition in kind if the real property in question is susceptible to a practicable division and may take cognizance of all questions of law affecting the legal title that may arise ...
A party asserting either a claim, counterclaim, cross-claim, or third-party claim or a defense may plead alternative facts and theories of recovery against alternative parties, provided that such claims, defenses, or demands for relief so joined arise out of the same transaction or occurrence.
The owner who no longer wants ownership of the property can ask the court to force a sale in lieu of partition. Rather than continuing to co-own the property, the court can force the owners to put the house up for sale.