New Hampshire 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
It is worth noting that there are always exceptions. It is entirely possible for complex cases to be resolved faster than those with more simple terms. While the process will vary from case to case, it is reasonable to expect a partition action to take anywhere from 18 months to 24 months.
There are only two things that can officially stop a partition action: fraud and duress. Evidence of fraudulent activity on behalf of any of the co-owners or threats made to influence the outcome of the case may be grounds for stopping a partition action lawsuit.
When two unmarried individuals co-own a property and wish to terminate their shared ownership, they can file a legal action known as a Petition to Partition. This allows the court to intervene and facilitate the fair division of the property, including the distribution of equity.
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.
For a petition to partition real estate, the commissioners have 90 days after they are appointed to execute the partition and file a full report of their actions with the court. For a petition to partition other real property, the commissioners have 20 days to divide the property as equally as possible.
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.
The letter explains that you have the right to force a sale via partition action, citing to the relevant law. The letter ends by attempting to persuade your co-owners that voluntary sale or a voluntary buyout would be better than a forced sale.
Attorney fees for even the most simple of partition actions could exceed $5,000. Even if the partition lawsuit is uncontested, there are many steps and lots of paperwork, which requires a significant amount of attorney time.