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 act or removing or dispossessing or expulsion of an individual from a premise by force or law. ...

Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement. ...

Simulation that enables investors to determine variations in the rate of return on an investment property in accordance with changes in a critical factor. It is an experiment with decision ...

English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...

Decline in value of real estate property because it is near something which is damaging to its worth. For example, a house located next to a pollution treatment center, drug center, or ...

Obtaining all the money needed for a real estate project's development. The acquirer/developer does not need to give any of his own funds for upfront costs. The developer also does not have ...

Extent to which soil has cavities or pores, thereby allowing water to pass through. soil productivity;Ability of the soil to accomplish the desired objective such as its capacity for ...

Right to enter and start construction or furnishing property that is in the process of being purchased. ...

Detailed financial accounting of all the credits and debits for the buyer and seller upon consummation of a real estate sale. ...

Popular Real Estate Questions