South Carolina Agreement for the Partition and Division of Real Property
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How to fill out Agreement For The Partition And Division Of Real Property?
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FAQ
If all owners don't agree to partition, one or more of the owners may file a lawsuit asking the court to create a partition. If this is the case, a judge can order a partition of the property. In most circumstances, a Partition Action is brought to divide a piece of real property, such as a home or land.
A partition in kind occurs when the court physically divides the real estate. A partition by sale occurs when the court orders the sale of the property and the net sale proceeds are divided among the co-owners ing to their respective interests.
If the court determines that the property is heirs' property, the property must be partitioned under Article 3, Chapter 61, Title 15, unless all of the cotenants otherwise agree in a record.
A person may have a title that they believe is valid to the property, but it turns out it isn't. As long as he or she openly occupies the property for 10 years with this invalid title, then he or she will have adversely possessed the property. This is called adverse possession under ?color of title.?
If you live in South Carolina and die without a valid will and have only a surviving spouse (but no children), your spouse gets everything. If you have children and you die intestate in South Carolina, your spouse inherits half of your estate while your children get the other half evenly.
When heirs' property is created, the heirs own all the property together (in legal terms, they own the property as ?tenants in common?). In other words, they each own an interest in the undivided land rather than each heir owning an individual lot or piece of the land.
(i) In the event of the death of a joint tenant, and in the event only one other joint tenant in the joint tenancy survives, the entire interest of the deceased joint tenant in the real estate vests in the surviving joint tenant, who is vested with the entire interest in the real estate owned by the joint tenants.
A partition agreement may be an express statement that the right to partition is waived. It may also be evidenced by a right of first refusal where one co-tenant is required to offer the property for sale to another co-tenant as a condition precedent to an action for partition.