Property can be owned individually or by more than one person. Accordingly, if there is only one owner, fewer issues will arise when the time to sell happens. On the other hand, problems can occur when there are two owners and only one wants to sell. If you own a property with another individual and they refuse to sell, contact South Florida Partition Lawyers at (954) 990-7552.
What happens if only one owner wants to sell?
If one owner wants to sell the property and the other does not, they can seek relief from the Court to force the sale. This is called a Partition Action. The process is as follows:
- The Complaint is filed and served on the other owner.
- Twenty days to file a response.
- The parties will provide each other proof of improvements and credits.
- Mediation occurs. The case is not always settled.
- A Final Hearing will take place.
- The Court will order a Public Sale of the property.
At the Final Hearing, the Court will hear arguments and evidence from both owners. Accordingly, each side will be able to show the Court their contributions to the maintenance and improvement of the property. They may receive credits if they contributed more. Ultimately, the Cout will order it to be sold.
How Can a Partition Action be Avoided?
Seeking an order from the Court should always be the last option. Owners should attempt to resolve the matter. For example, the owner that does not want to sell an attempt to buy out the owner’s interest that does. Secondly, the Owners can attend a pre-suit mediation that would allow the parties the opportunity to resolve the dispute over the sale. Owners should be aware that if the Court orders the sale of the property, they will likely receive fewer proceeds. Therefore, it is best that the parties try to settle.
If you have questions about your jointly owned property, contact South Florida Partition Lawyers at (954) 990-7552.