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 definition of the term abutment can be a structure in engineering meant to support the pressure of a bridge. It is also used for arches or spans in the construction of buildings. The ...

A large enclosed shopping mall having several national and regional retails stores acting as anchor tenants. The enclosed floor area of regional shopping centers ranges between 250,000 ...

Tank placed beneath the ground to accumulate sewage. ...

principal line running north and south in the government rectangular survey method. Other meridians, each 24 miles apart, are surveyed from the principal meridian. ...

Geographic location where a vacant or occupied structure exists. It usually means the land reserved is for a future building. ...

Secondary written agreement to purchase real property in the event the initial contract is not signed. ...

Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered serious erosion, is ...

A fully amortized mortgage necessitating periodic payments of both interest and principal. In the early years of the loan, the share of principal is smaller and the interest larger, a ...

Expenditure paid to occupy property over a specified time period. ...

Popular Real Estate Questions