Force Sell Joint Property
Description
How to fill out Joint Venture Agreement To Develop And To Sell Residential Real Property And Share Revenue - Profits And Losses?
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FAQ
The Partition action is a civil lawsuit filed against the other co-owners of the Property. Florida law entitles property owners to bring an action for Partition and force a sale. This can be done at a private or public auction.
Chapter 46A of the North Carolina General Statutes provides a solution to this problem. The owner who wants to sell can file a Petition to Partition the real property. This procedure allows for the Court to either physically divide the property to allow all joint owners to have a part of the real property.
In case of mutual consent. Irrespective of whether the property is being divided amongst family members, business associates, friends, or others, a partition deed must be signed between the co-owners (co-owners can be more than two). The property is divided based on an investment, a will, or a mutual agreement.
To initiate a partition action in Pennsylvania, a co-owner must file a partition complaint at the Court of Common Pleas in the county in which the property is located.
In Florida, a partial owner of a property can force the sale of a property by filing a partition lawsuit. The term ?partition? refers to a court-supervised process to divide the jointly owned property. It is important to understand that the law may not force anyone to stay as the co-owner of a property.