Mississippi Petition for Partition in Kind
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How to fill out Mississippi Petition For Partition In Kind?
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FAQ
Filing a petition to partition Typically, a "lis pendens," or default notice, is also filed at the same time as the petition. This document simply notifies everyone who has been named in the partition action that the lawsuit is being filed.
A suit for partition is filed in a Civil Court having jurisdiction over the area where the property is located. If there are several properties, the lawsuit can be filed in any one of the courts. The partition suit results in a decree which ends the joint nature of the property.
You can hire a trust litigation attorney to litigate a partition action. Your attorney may fight to increase the value of your share of the property if, for example, you paid for maintenance, repairs, improvements, property taxes, mortgage payments, etc.
A Partition By Sale allows a co-owner of real property to force a sale of the entire property despite the unwillingness of any co-owner.The Court must determine that under the circumstances, sale and division of the proceeds would be more equitable than division of the property.
Partition in Kind (also known as Actual Partition) occurs simply when the property is divided, equitably and fairly, between the multiple owners. Each co-owner will own a certain percentage of the property. Courts tend to favor this approach because it does not require someone to sell their property against their will.
Identity proof of legal heir. Certified copies of all title deeds of the property, including the description of the property. Valuation of property. Birth and Residence proof of the legal heir.
A petition for partition can take 6 months to one year if ordered sold at the courthouse. The parties can always decide to sell through a realtor and the time will depend on when a buyer makes the offer.
How much does a partition action cost? In California, the cost of partition action and attorneys fees can vary greatly, depending on the complexity of the property and issues involved and the resistance of your opposing party. Attorney's fees can range from $20,000 to $100,000+ per party.
Can A Partition Be Stopped? Typically, a partition action cannot be stopped once a lawsuit is filed because anyone who wants to dissolve ownership that is jointly owned with another person has a legal right to sell his/her interest if desired.