Franklin, NC asked in Real Estate Law for Florida

Q: What does partion grant one owner over the other in a joint ownership issue?

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1 Lawyer Answer
Phillip William Gunthert
Phillip William Gunthert
Answered
  • Orlando, FL
  • Licensed in Florida

A: A Partition Action is the forced division or sale of a property when two owners or more cannot come to agreement on how to divide or sell the property or buy the other party/ies out with respect to their ownership. It will take time and money as it is a lawsuit and it will cost time, money and effort to pursue a partition (as in everyone gets less due to court, attorney fees, costs related to the property and potentially even a reduced price for a forced judicial sale eventually for the property), it is therefore no doubt best and recommended to try to reach reasonable agreement with the other owners on how to buy the other/s out or agree to sell it timely together. You usually have the below three options or outcome or some potential variations of one of them as listed, the court may (i) order a private sale under the supervision of the clerk or a magistrate, (ii) order a judicial sale by public auction, or (iii) allow for a judicially sanctioned private sale, or the judge may first allow the parties an opportunity to negotiate between themselves or arrange a private sale to a third party. You can find out more about such an action in Florida Statute 64.071 (review section 64.011 through 64.091 as they are always available online if you do a search). Note: a forced partition and judicial sale will always get you less than you would be able to get by selling it on your own with agreement with the other party.

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