Ohio Partition Actions: What Happens When Co-Owners Disagree About Selling Real Estate?
Property ownership with another partner can succeed only when all parties are united on its use. Disagreements will emerge when co-owners cease to be on the same page when managing jointly held property. For instance, one of the co-owners could want to sell the property, while another party wants to retain ownership of it. In these cases, a partition in Ohio can help.
Partition lawsuits are filed by joint owners who seek to partition or sell jointly held real property. They usually emerge when people inherit from their parents or other family members and are unable to agree among themselves.
What is a partition action?
It is well within the rights of any co-owner in Ohio to file a lawsuit for the partitioning of their co-owned property. In such lawsuits, the aim is to properly divide the property interests between the two concerned parties. If necessary, the courts can order the sale of the property in lieu of an actual physical partition.
Oftentimes, in the case of residential properties, the actual division of the property would not be practical. In such situations, the sale of the property is ordered.
Common situations that lead to partition lawsuits
Partition suits can be brought for various reasons. These include:
- Brothers or sisters who inherit the family home and disagree on selling the property
- Ex-partners who have bought property together but have since parted ways
- Partners in business who cannot agree on the fate of an investment property
- Failure by one party to pay mortgage installments, taxes, or other fees
- Disagreements over occupancy and management rights of the property
When there is a disagreement over property, even after one party has paid more money into it than the other, the situation can easily become complicated. The court may need to consider several factors before deciding the partition suit.
What happens during the process?
Partition litigation begins when one of the co-owners files a claim in court to have the property partitioned. All parties who have an interest in the property should be involved in the litigation process.
Firstly, the judge will consider the parties’ interests and the practicality of partitioning the property. Sometimes, because dividing the property is impossible, the judge will order the sale of the property, while one of the co-owners buys out the other person’s share.
There may be disagreements about reimbursement claims, where, for instance, one of the co-owners has paid the mortgage, taxes, or repairs without the assistance of a second party.
Legal guidance can help
The partitioning process can be difficult for the parties involved, as it often involves family members or former partners. Moreover, it may become financially complicated when the percentage of ownership, costs, and property values are disputed.
With the help of an attorney, you can preserve your own interests and get professional advice concerning issues related to ownership, buyouts, or other processes that require your presence in court.
If you have shared possession of the property and you cannot agree about its further fate, you should learn what measures to take.
Talk to a Columbus, OH, Real Estate Lawyer Today
Kohl & Cook Law Firm, LLC, represents the interests of those looking to purchase a home. Call our Columbus real estate lawyers today to schedule an appointment, and we can begin addressing your needs right away.
