An action for partition usually arises when there is a dispute as to how to divide property, or in a dispute as to whether property should be sold. One co-owner of real property can file to get a court order requiring the sale of the property and division of the profits.
Colorado Complaint for Conversion of Personal Property by Co-Owner and Request for Partition
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US-01705BG
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Conversion is when someone wrongfully uses property of another for their own purposes or alters or destroys it. In an action for conversion, the taking of the property may be lawful, but the retaining of the property is unlawful. To succeed in the action, the plaintiff must prove that he or she demanded the property returned and the defendant refused to do so.
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How to fill out Complaint For Conversion Of Personal Property By Co-Owner And Request For Partition?
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FAQ
Partition action is the legal process by which a court is called upon to divide (or part) the equitable interest in real property amongst co-owners who can't unanimously decide on what to do with the asset.
A partition suit is an effective remedy for resolving real estate ownership disputes, particularly ones in which co-owners cannot agree on whether to sell or keep a piece of property.
In a partition lawsuit, there are generally four different steps. First, the court determines each party's ownership interests. Second, the court will decide on the manner of sale. Third, the court will order the property be sold.
The initiating co-owner, also known as the plaintiff, will file a partition action complaint with the court. This document typically identifies the property, describes the nature of the plaintiff's ownership, lists all other co-owners (defendants), and states the request for the property to be partitioned.
However, while a partition action may be expensive, that should not be a bar from seeking to partition property as Colorado law allows for the recovery of certain costs, including the cost of a commissioner and legal fees. If awarded, these costs will come from the final proceeds of the sale.
In Colorado, partition actions are governed by a set of statutes that allow anyone with an interest in the property to petition the court. The court will appoint one or more commissioners to either divide the property or sell it in a public sale and split proceeds among owners.
Building a partition wall costs $3 to $18 per square foot installed, depending on the size, material, and labor costs. Portable partition walls cost $3 to $14 per square foot for materials only and don't require professional installation. Interior partition walls are used to divide rooms and are often decorative.