Trusted Legal Counsel In Partition Actions
A partition action is an action in which two or more parties own a piece
of property together but no longer wish to own it together, or one feels
the other is taking advantage in some way.
A partition action often comes up in the context of a parent dying and
a property is passed to the children. The property was left to all of
the children, but now one child or more are being forced to move out because
the others want to sell the property. Can one or more children buy out
the other siblings? Do they have the money to do so? Can they remain in
the property and pay rent?
At Vishnick McGovern Milizio LLP, we can answer your questions and represent
your best interests in these complicated actions involving selling co-owned property.
Partition Actions And Rental Property In New York
If there is rental property involved, a partition action can also come
into play when investors have invested in one piece of real estate and
now want to be bought out, and they need to know what the value of the
property is and what the rent role is. They need what is called an
accounting, which is another part of the petition action. The accounting requires
the party in control of the investment property or in control of the financials
to account for the expenses and revenue with regard to the property, the
rent collected and other expenses.
At Vishnick McGovern Milizio LLP, our lawyers have handled many partition
action cases. When properly managed, most of these cases can be resolved
by summary judgment, without the need for a trial over issues of liability.
Of course the issues of accounting and valuation of the property are questions
of fact for which there can be evidentiary hearings and expert testimony
and, therefore, a trial.
Ready To Resolve Your Real Estate Matter
As we are very familiar with these actions, we know where to find appropriate
experts, depending upon where the real estate is located and its complexity,
and whether it is a condo, co-op, one or two-family house, multiple dwelling,
or a large residential or commercial property.
Contact us by email or call our offices to speak to an experienced real estate partition