Arkansas Agreement to Partition Real Property According to Award of Surveyor
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How to fill out Agreement To Partition Real Property According To Award Of Surveyor?
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FAQ
Judicial partitions. This remedy requires one or more of the joint tenants to seek help from a court and ask a judge to divide the property fairly between the joint tenants. This partition can be done in-kind by drawing boundaries through the land and allocating equal portions of the land among the joint tenants.
Partition by Appraisal: The court orders one or more co-owners to purchase the other co-owners' interests in the real property on certain agreed-upon terms following an independent appraisal of the property.
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.
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.
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.
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.