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Agreement for the Partition and Division of Real Property

Partition Agreement With Sale In Virginia

Category:

Civil Actions - Partitions

State:

Multi-State

Control #:

US-00410

Format:

Instant download

Description

This Partition Agreement is an Agreement for the Partition and Division of Real Property. This is a Voluntary agreement to partition and divide real property. This Agreement can be used in any state. This Agreement is to be signed in front of a notary public.

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Under this statute, any coowner has the right to file a partition lawsuit to request a division or sale of the property. In a partition suit, the petitioner asks the court to determine the best way to "split" the property.A partition action enables you to force the sale of property when coowners are refusing to sell. Partition suits are filed when multiple owners of real estate cannot agree as to the sale or division of the property. Explore expert real estate partition and allotment legal services at Moghul Law. It may take longer to complete a partition sale than a simple agreement. When two or more people own the same property, one of the owners CAN force a sale of the jointly owned property via a partition action or lawsuit. One party might want to sell the property, but the other refuses. After the sale of the home, the court will distribute the proceeds to everyone with an interest in the property proportionally. Essentially, anyone with a vested ownership interest in real estate may file suit to compel a partition.

Partition Agreement With Sale In Virginia

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