When multiple owners share ownership of a real estate property, such as beneficiaries in a probate matter, disputes may arise regarding the property’s future. In the State of Florida, a partition action can be employed to enable one of the co-owners to sell their share of the property without requiring permission from the other co-owners.
Real property is often jointly owned by family members, unmarried individuals, or business partners. If all parties involved reach a mutual agreement on the property, no partition action is necessary. However, situations may arise where a co-owner desires to sell their share of a property when another co-owner does not. In such cases, the co-owner can initiate a partition action by filing a petition with the relevant Florida court to compel a sale or buyout of their portion.
Filing the Partition Action
Under Florida law, specifically Chapter 64.022, a co-owner must file a petition in the county where the property is located. All parties with an interest or lien on the property must be duly notified. The judge will carefully assess each party’s rights and claims before determining if a sale of the real estate is appropriate and feasible. If ordered by the court, the sale can occur privately or through an auction, with the proceeds distributed pro-rata among the co-owners. Depending on the type of partition action, co-owners may choose to purchase the property from other owners based on a court-ordered appraisal.
Costs of Filing a Partition Action
Engaging an experienced Florida partition action attorney is highly recommended for the petitioner. The expenses associated with the case will include attorney’s fees, filing fees for necessary documents, and trial costs if applicable. In many instances, the proceeds from the sale may cover these expenses.
Benefits of Filing a Partition for Sale
The primary advantage of initiating a partition action is that it empowers one or more co-owners of a real estate property to sell their share against the wishes of other co-owners.
Partition actions offer a legal avenue for co-owners of real estate properties in Florida to resolve disputes regarding ownership interests. By initiating this process, a co-owner can seek a sale or buyout of their share, providing a solution even when unanimity among all parties is not feasible. To ensure a successful outcome, it is advisable to seek the assistance of seasoned legal professionals, such as Messina Law Group, P.A., who possess the necessary skills and knowledge in handling partition actions efficiently and effectively. For a free consultation, contact us at (813) 492-7798 or visit our location at 2550 Permit Place, New Port Richey, Florida, with other convenient locations available by appointment.
About Messina Law Group, P.A.
Messina Law Group, P.A. is a full-service law firm operating in Florida, equipped with extensive experience and expertise in handling Partition actions. Our commitment to safeguarding the interests of each client is unparalleled. Whether you are contemplating filing a Partition related to an inheritance or a co-ownership dispute, we are prepared to provide expert guidance and representation.