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Agreement by Co-Tenants Restricting Right of Partition

Middlesex Massachusetts Agreement by Co-Tenants Restricting Right of Partition

Name: Middlesex Massachusetts Agreement by Co-Tenants Restricting Right of Partition
Brand: US Legal Forms
Rating: 4.65 (486 reviews)

Category:

Real Estate - Contracts - Partitions

State:

Multi-State

County:

Middlesex

Control #:

US-03295BG

Format:

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.

How to fill out Middlesex Massachusetts Agreement By Co-Tenants Restricting Right Of Partition?

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FAQ

Simply put, an owner can initiate a partition action by filing a complaint in the Superior Court against the other owners, identifying the other owners, their address, the interest claimed in the property by each owner, and a description of the real property.

Inherited Property Can Be Partitioned For instance, if a will or trust calls for an inherited property split between siblings, one sibling may wish to keep the property, whereas the other siblings wish to terminate their interests in it through a sale.

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.

A partition is a division of concurrent interests in land. Such types of concurrent ownerships are usually either joint tenancies or tenancies in common.

By far the easiest way to divide jointly held property is simply to agree to do it. The joint tenants can simply come up with an agreed division of the property. It may be a good idea to hire an attorney to draw up a legally binding agreement once you and the other joint tenants have agreed in principle to a division.

This percentage of ownership is separate from other owners interest. The ownership interest is not unified; rather, it is divisible. Any owner can sell her ownership interest and there is no right of survivorship. If the owner passes away, her ownership interest passes to her heirs and assigns.

There are several types of property rights law, and within those types there are more specific spheres of property law. The three main types of property are real property, personal property, and intellectual property.

The right of partition allows co-owners who are seeking to terminate their interests in a piece real property to do so by utilizing the appropriate court to force the sale of the property.

A partition suit is an effective remedy for resolving real estate ownership disputes, particularly ones in which co-owners cannot agree on whether to sell or keep a piece of property. Your strategy for how to win a partition action will depend on what you are seeking to do with the property at issue.

Partition. 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.

Middlesex Massachusetts Agreement by Co-Tenants Restricting Right of Partition

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How can property rights be divided?

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Is a joint tenancy divisible?

What are the three types of property rights?

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