Maine Action for Partition of Real Estate
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How to fill out Maine Action For Partition Of Real Estate?
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FAQ
You can hire a trust litigation attorney to litigate a partition action. Your attorney may fight to increase the value of your share of the property if, for example, you paid for maintenance, repairs, improvements, property taxes, mortgage payments, etc.
A Partition action should be filed with the assistance of an experienced attorney. A Partition action typically involves the cost of a title report, legal fees and costs for handling the lawsuit through trial, and referee costs. An uncontested judgment for Partition could cost at least $25,000 in legal fees and costs.
Partition actions are when one party to jointly-owned property or a business wants to sell their ownership rights.Therefore a partition is a request to a court to help determine the best manner of dividing jointly-owned property.
A partition is the division of real property between people who own the property with undivided interests.Compulsory partition is also called a judicial partition. A judicial partition is made when the co-owners do not agree to a voluntary partition.
A partition action allows a co-owner of a property to force a sale of the property, so they can take their share of the proceeds. However, in some cases, the other co-owners may not want to sell the property. While it's very difficult, legally, to stop a partition action there are alternatives.
It generally takes about a year and half to two years to get to trial on a partition action.
Can A Partition Be Stopped? Typically, a partition action cannot be stopped once a lawsuit is filed because anyone who wants to dissolve ownership that is jointly owned with another person has a legal right to sell his/her interest if desired.