An Iowa Partition Deed for Surface Estate is a legal document used to transfer or divide the ownership of surface rights to a property located in Iowa. This deed is specifically designed for situations where multiple individuals or parties own a surface estate, and wish to partition, or divide, their interests in the property. The purpose of an Iowa Partition Deed for Surface Estate is to provide a clear and formal mechanism for co-owners to establish separate ownership rights to different portions of the property's surface estate. By doing so, co-owners can avoid disputes and conflicts that may arise from shared ownership and establish exclusive rights over specific areas. One type of Iowa Partition Deed for Surface Estate is the "Voluntary Partition Deed." This type of deed is used when all the co-owners of the surface estate willingly agree to divide the property among themselves. The deed outlines the agreed-upon division of the property and sets forth the newly established separate ownership rights for each co-owner. In cases where co-owners cannot agree on a voluntary partition, another type of Iowa Partition Deed for Surface Estate comes into play — the "Court-Ordered Partition Deed." This type of deed is initiated through a legal process in which one or more co-owners petition the court to divide the property. The court appoints commissioners who evaluate the property and propose a fair division among the co-owners. The court then issues a decree mandating the partition, and the Court-Ordered Partition Deed is used to formalize the division of the property. In both types of Iowa Partition Deed for Surface Estate, the deed typically includes essential information such as the names and addresses of the co-owners, a description of the property being partitioned, the details of the agreed-upon division or court-ordered partition, and the respective ownership rights and boundaries of each co-owner's portion. It is important to note that an Iowa Partition Deed for Surface Estate only pertains to surface rights and does not affect any subsurface mineral rights or other interests that may exist. These underlying rights may require separate agreements or deeds to establish ownership rights. In summary, an Iowa Partition Deed for Surface Estate is a legally binding document that allows co-owners to divide their surface rights to a property in Iowa. Whether through a voluntary agreement or a court-ordered mandate, this deed ensures transparency and clarity in establishing separate ownership rights.
Iowa Partition Deed for Surface Estate
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How to fill out Iowa Partition Deed For Surface Estate?
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FAQ
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.
Here are some of the most common ways to win a partition suit: Getting bought out at a fair price. ... The property being sold on the open market. ... Getting a co-owner to move out of the property so it can be rented. ... Getting reimbursed for the funds you put into the property.
A property subject to partition shall be partitioned by sale and the proceeds from the sale divided by the owners of the property unless one or more of the property owners files a request for partition in kind and the court determines partition in kind is equitable and practicable.
651.28 Initial decree. The court shall appoint a referee and direct the referee to obtain an appraisal as provided in section 651.12.
651.22 Costs of partition action. A cost created by a contest arising from the partition action shall be taxed against the losing contestant unless otherwise ordered by the court. If partition is in kind, costs shall be adjudged and may be collected as provided in section 651.16, subsection 5.
