Partition Action
Definition of "Partition action"
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.
Popular Real Estate Terms
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Supports a structure. ...
real property located in a metropolitan, heavily populated area. ...
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Not attached to any parcel of land but merely a personal right to use the land of another. ...
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