Definition of "Partition action"

David Stonier real estate agent

Written by

David Stonierelite badge icon

Achieve Realty

Court action to order a compulsory sale of real estate owned jointly between two or more owners. A partition action divides the proceeds of a real estate sale among the joint owners rather than physically dividing the real estate into separate undivided interests. For example, a partition action occurs in an estate dispute between the heirs of the Jack estate where all were granted a tenancy in common for a large parcel. The court ordered the property sold at market value with dividing the proceeds equally among the heirs.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The term ad valorem comes from Latin, and its literal translation is “according to value”, which makes the ad valorem tax definition easy to understand. Defining ad valorem tax ...

Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...

Generation X, also known as Gen X , is the generational extract of Americans that are sandwiched between the Baby Boomer Generation and the Millennial generation (also called ...

Land parcel bounded by two intersecting roadways. ...

An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset. Concepts of cost and expense are often ...

Unanticipated damages incurred as the result of the sub effects of a parties breach of responsibility or contract. Consequential damages often result in financial compensation. ...

Rooflike cover that extends over any place to provide shelter from the sun, rain, or wind. ...

Real estate property incentive offered for reasons other than individual merit. A discriminatory inducement is an effort to get an individual to buy or sell, rent, or lease real estate ...

Condemnation is a process by which private property is taken for the purpose of public use. Prior to the taking, the property is said to be “condemned property”, meaning that it has ...

Popular Real Estate Questions