Joint Tenants Force Sale In Utah
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Unlike joint tenancy, where each owner has an equal share, tenancy in common allows for specific parts or percentages of the property to be owned by each tenant. This type of ownership is often seen in situations where family members or business partners want to maintain separate shares.
If one of you wants to leave If your joint tenancy is for a fixed term (for example, 12 months), you must normally get the agreement of your landlord and the other tenants to give notice to end the tenancy. If you end your tenancy it ends for everyone.
Severing a joint tenancy means that you are changing from joint tenants to tenants in common. This means that you and the other owner will go from owning all of the property together, to owning specific shares of the property.
If one owner wants to sell a jointly owned property but the other owner(s) refuse, the party seeking to sell can file a partition action. This legal procedure allows a court to intervene and force the sale of the property, dividing the proceeds among the owners ing to their ownership interests.
“Joint tenancy” describes a manner of holding title to (owning) real property such as a house or land in which multiple owners share ownership during their lifetimes, with the last surviving owner taking full ownership of the property when the other owner(s) have died.
Joint tenancy is most common among married couples because it helps property owners avoid probate. Without joint tenancy, a spouse would have to wait for their partner's Last Will to go through a legal review process—which can take months or even years.
A person who is a joint tenant or tenant in common with another of real property may bring an action to partition the property for the benefit of each tenant. An action for partition may require the sale of the property if it appears that the partition cannot be made without prejudice to the owners.