Virginia Agreement by Co-Tenants Restricting Right of Partition

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Multi-State
Control #:
US-03295BG
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Word; 
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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

Generally, the right to partition is absolute First, multiple California courts have come to the same conclusion that there is an absolute right to partition. One court found that: ?A co-owner of property has an absolute right to partition unless barred by a valid waiver.? Lutz (2017) 16 Cal.

A partition by allotment occurs where one or more of the co-owners purchase the other co-owners interest in the property, at a price set by court-ordered appraisal. If a co-owner seeks to buy out the interests of the other owners, courts in Virginia must consider a number of factors in evaluating the request.

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

Generally, the right to partition can be waived by an express?or implied?an agreement between co-tenants. (CCP § 872.710; Penasquitos, Inc. v. Holladay (1972) 27 Cal.

The Members hereby waive any right of partition or any right to take any other action that otherwise might be available to them for the purpose of severing their interest in the assets held by the Company from the interest of the other Members.

Here are some of the most common ways to win a partition suit: Getting bought out at a fair price. ... The property being sold on the open market. ... Getting a co-owner to move out of the property so it can be rented. ... Getting reimbursed for the funds you put into the property.

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.

Joint tenancy includes the common law right of survivorship, provided it is set out in the deed. Upon death of a joint tenant, title remains in the surviving joint tenant without further action. You can't leave joint tenancy property to someone else in your will.

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Virginia Agreement by Co-Tenants Restricting Right of Partition