North Dakota Agreement by Co-Tenants Restricting Right of Partition

State:
Multi-State
Control #:
US-03295BG
Format:
Word; 
Rich Text
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Description

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, or division of the land between the co-owners, which is often a practical impossibility. Normally, a partition order provides for an appraisal of the total property, which sets the price for one of the parties to buy out the other's half.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Any person with an existing or future interest in the property may bring the action for partition. This includes existing co owners (joint tenants; tenants in common, etc.) as well as people with a future interest (remainder men to life estates.) However, lien holders do NOT have the right to partition.

If the parties can't agree how to deal with the property either may make an application to court under the Partition Act RSO 1990, c P. 4 for a physical division of the land (known as ?partition?) or a court-ordered sale of the property and division of the proceeds.

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.

To legally ?partition? property means to bring a proceeding in court to force the physical division or sale of the property and division of the proceeds among the co owners. In certain cases it can be an absolute right of a co owner while in others it is contingent on various factors.

What is a partition action? A partition action is a type of lawsuit pertaining to joint owners of real property. When two or more owners cannot agree on the disposition of the property in question, any of the owners can file a partition action in the appropriate court.

Timeframe or Length of a Partition Action A forced sale or partition action can take 6-12 months on average.

?[T]he right of partition may be waived by contract, either express or implied.?

An agreement made not to partition a real property during a certain time constitutes a legal defense to an action brought during such time for its partition. When there is an agreement prohibiting a partition, equitable defenses like estoppel and waiver can be raised in a partition suit[ii].

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North Dakota Agreement by Co-Tenants Restricting Right of Partition