The Virginia Agreement to Partition Real Property According to Award of Surveyor refers to a legal document that outlines the division and distribution of real estate among co-owners based on the report and recommendations provided by a professional surveyor. This agreement helps resolve disputes and ensure a fair and equitable distribution of assets. Here are some types of Virginia Agreement to Partition Real Property According to Award of Surveyor: 1. Virginia Agreement to Partition Residential Property: This type of agreement specifically pertains to the partitioning of residential real estate, including single-family homes, townhouses, condominiums, or any other property primarily used for residential purposes. 2. Virginia Agreement to Partition Commercial Property: This version of the agreement deals with the partitioning of commercial real estate, such as office buildings, retail spaces, warehouses, or any property used for business purposes. 3. Virginia Agreement to Partition Agricultural Property: This specific type of agreement is designed for the partitioning of agricultural real estate, which includes farmland, orchards, pastures, or any land used for crop cultivation or livestock breeding. 4. Virginia Agreement to Partition Vacant Land: This agreement focuses on the division of undeveloped or vacant land among co-owners, with the assistance of a surveyor's award. It determines the appropriate boundaries, easements, and other factors related to the land's partition. 5. Virginia Agreement to Partition Mixed-Use Property: In the case of properties that combine both residential and commercial elements, this agreement ensures a fair partitioning of the real estate according to the surveyor's award, taking into consideration the specific requirements of both types of co-owners. The Virginia Agreement to Partition Real Property According to Award of Surveyor aims to provide a clear and legally binding solution for the division of real estate, ensuring a smooth and amicable process while respecting the rights and interests of all parties involved.
Virginia Agreement to Partition Real Property According to Award of Surveyor
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FAQ
In a partition by allotment, which is not available in all jurisdictions, the court awards full ownership of the land to a single owner or subset of owners, and orders them to pay the person or persons divested of ownership for the interest awarded.
Under F.S. 64.081, each party is bound to pay a share of the costs by the court judgment.
For example, if a brother and sister jointly own inherited property from their parents, they might agree to a partition by appraisal. In that instance, they agree in advance that one of them would buy the other's interest at whatever the appraised price is determined to be.
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.
Partitioning is a division in real or personal property between co-owners. This typically occurs when property is inherited or passed down to heirs. There are two types of partitioning: Partition in Kind and Partition by Sale.
Partition is the division of real or personal property between or among two or more co-owners, such as joint tenants or tenants-in-common. Partition is not a remedy available to owners who hold title as community property or quasi-community property. This article focuses on the Partition of real property.
The court shall set a date, not sooner than 60 days after notification to the parties, by which each party allotted a share of the property must pay the amount due to the court.
Who May Pursue a Partition Suit? Va. Code Ann. § 8.01-81 provides that ?[t]enants in common, joint tenants, executors with the power to sell, and coparceners of real property, shall be compellable to make partition and may compel partition.?