Wyoming Agreement by Co-Tenants Restricting Right of Partition

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

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

(a) An affidavit stating facts relating to matters which may affect the title to real estate in this state, made by any person having knowledge of the facts and competent to testify concerning them in open court, may be recorded in the office of the county clerk in the county in which the real estate is situated.

Because the Rule Against Perpetuities is state law, states have the option of relaxing or eliminating its constraints. While Wyoming has not abolished the Rule Against Perpetuities, it does allow Trusts to last one thousand (1,000) years.

Tenancy in common allows owners to sell their ownership interest in the property at any point without requiring the consent of the other owners. Similarly, owners can mortgage or transfer their interest in the property.

Wyoming Statute 34-1-142 requires a statement of consideration be completed whenever a deed, contract or other document transferring legal title is recorded. Information such as the date of sale, purchase price, terms of sale, etc. are required.

The application shall be verified and shall set forth with specificity all of the following facts: (i) That he is at least seventeen (17) years of age; (ii) That he willingly lives separate and apart from his parents; (iii) That his parents consent to or acquiesce in the separate living arrangement; (iv) That he is ...

Wyoming Statute of Limitations on Debt Collection For written contracts and agreements, the statute of limitations is ten years. Oral contracts have a statute of limitations of eight years.

The lives selected to govern the time of vesting must not be so numerous nor so situated that evidence of their deaths is likely to be unreasonably difficult to obtain. It is intended by the enactment of this statute to make effective in this state the American common-law rule against perpetuities.

If the renter fails to take possession of the property within the additional fifteen (15) day period, the property shall be conclusively deemed abandoned and the owner may retain or dispose of the property.

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Wyoming Agreement by Co-Tenants Restricting Right of Partition