What is partition action?
Splitting any shared financial investment can be hard to negotiate, and Partition action is one way to address that in law. In essence, partition action is when the court divides property equally between the two parties involved.
How does it work?
Typically, though not necessarily, the court will sell all the real and personal property involved, and split the returns evenly. In California, community property cannot be partitioned. Though this type of lawsuit is usually used to divide realty, it can be used to split any type of partnership.
The court determines whether the property ought to be partitioned. However, it is not necessary for the court to reach the decision; the two parties involved can pursue settlement. In settlement, the two parties agree on how the property is to be appraised and divided between them. This route is usually much less expensive than pursuing the matter through the court.
Are you considering filing for partition action, or have further questions? We can help you find the lawyer you need to proceed. Please call 805.569.9400