Co-owning a property is great when you need to mitigate costs or would like to share in the profits. But co-owning property can also lead to many disputes over how and when to utilize the property, how costs will be split among the parties, and disagreements over the value.
When disputes happen over jointly owned property there are three options: one party can buy the other party(ies) out; the owners can sell the property and split the profit evenly; or the parties in question can enter a partition action.
Mutual agreements are always best in cases like this, as you never want to let the court decide how to split up the property or force you to sell. However, if an agreement is simply not possible, King Law Firm Attorneys at Law, Inc. is ready to help you complete a partition action of your property. Whether it’s a piece of land or assets in an estate proceeding or divorce, call now for a consultation.