Agreement by Co-Tenants Restricting Right of Partition

State:
Multi-State
Control #:
US-03295BG
Format:
Word; 
Rich Text
Instant download

Description

An action for partition usually arises when there is a dispute as to how to divide property, or in a dispute as to whether property should be sold. One co-owner of real property can file to get a court order requiring the sale of the property and division of the profits, or division of the land between the co-owners, which is often a practical impossibility. Normally, a partition order provides for an appraisal of the total property, which sets the price for one of the parties to buy out the other's half.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Co-tenants can agree among themselves that one co-tenants has the right to exclusive possession. - The law encourages parties in conflict to resolve the conflict by private agreement rather than by a lawsuit.

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.

Tenants in common and joint tenants can petition a court to partition the property. This means that the court is being asked to divide the property into different lots or sections. There are two general types of partitions.

Joint tenants have undivided interests in the whole property. This means all tenants have the right to possession of the entire property. If joint tenants refuse entry to another joint tenant, the "ousted" tenant can sue the others for damages.

Joint and several liability Anyone contemplating entering into a joint tenancy, or becoming the guarantor of a joint tenant, should be advised that they could be sued individually by the landlord for all the obligations and rent due under the agreement eg for the rent debt of defaulting tenants.

The deed specifies that the joint tenants own an equal amount of interest in the purchased property and are thus equally liable for it financially. Since the joint tenants have equal interest, the property cannot be sold without all parties' consent.

This is known as 'Severing the Joint Tenancy'. It requires service of a written notice of change the 'severance'. It can be done without the other owner's cooperation or agreement. It is recorded at the Land Registry, and the other owner will know it has been done but only 'after the event' so to speak.

If you're joint tenants and you both want to leave, either you or your ex-partner can end the tenancy by giving notice. You'll both need to move out.You can apply to court to change your ex-partner's tenancy to your name, or remove their name from a joint tenancy.

A partition deed is executed by co-owners In case a partition is by mutual consent, a partition deed is executed by the co-owners. The partition deed is required to be registered at the office of the sub-registrar of the place where the property is situated as in case of any other registration.

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Agreement by Co-Tenants Restricting Right of Partition