Georgia General Form of Agreement to Partition Real Property
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How to fill out General Form Of Agreement To Partition Real Property?
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FAQ
Statutory partition. This method of partitioning property involves petitioning the Superior Court in the county where the land is situated. A statutory partition may result in a physical division of the property with each owner gaining sole ownership of a share of the divided property.
Historically, the term "partition" comes from the basic word to break into "parts" as in physically dividing real estate in half. For example, if two siblings inherited ten acres of farmland, the property could historically be divided into five acres a piece for each of them.
When two or more people jointly own a piece of property, and they disagree about how to divide that property, those parties can initiate a partition action. Under Georgia law, a partition is when the court steps into the disagreement and has the land divided by court order.
There are three methods of Partition provided by state law: (1) Partition by Physical Division, (2) Partition by Sale, and (3) Partition by Appraisal. Also known as ?Partition in Kind,? a Partition by Physical Division requires the Court to divide the land by its proportional value.
Joint Tenants in Georgia Georgia recognizes joint tenancy with right of survivorship as a common form of joint ownership. This form allows multiple people or entities to own a title interest to the property, and comes with various rights and responsibilities.
How to Force the Sale of Jointly Owned Property (step-by-step) 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.
It is designed to preserve family wealth passed to the next generation in the form of real proeprty. In Georgia, the Act is codified at O.C.G.A. § 44-6-180 through § 44-6-189.1. Initially, when a partition action is filed, the Act requires the Court to determine whether the property is ?heirs proeprty.? O.C.G.A.
Partition Actions When two or more people jointly own a piece of property, and they disagree about how to divide that property, those parties can initiate a partition action. Under Georgia law, a partition is when the court steps into the disagreement and has the land divided by court order.