When real estate is inherited from family members, the property is often placed in the hands of multiple owners. Additionally, it is increasingly more common in the Bay Area for buyers to buy a property together with other people – family members, roommates, friends – to make it more affordable. Being a co-owner for a property offers many benefits, but sometimes disagreements arise between co-owners that affect the future of the property. Any co-owner can exit a co-ownership arrangement through a process called partition. In a partition action, the property can be divided, bought out, or — more commonly — sold, and there isn’t much the other owners can do to stop the process.
To better understand what partition actions are and how the process of severing a co-ownership arrangement is performed, Brewer Offord & Pedersen LLP recently presented a webinar about the basics of partition actions in California. On Tuesday January 23rd, real estate attorney Ashlee D. Adkins gave an overview of partition actions, and how property co-ownership arrangements can be severed. REALTORS® learned how to better inform their clients about co-ownership of property. Homeowners and real estate buyers found out the types of options they have if they decide to purchase a property with other people, while real estate investors gained an understanding of how they can protect their partial interest in a co-owned property.
Attorney Ashlee D. Adkins presented a webinar about the basics of partition actions in California, discussing important topics such as:
- Elements of Co-Ownership
- Types of Partition Actions
- Reasons Leading to Partition
- Process for Filing Partition Actions
- Balancing Competing Interests in the Court
- Using a Referee in Partition
- Determining Equitable Outcomes
- and more!
You can watch the replay of the webinar below, as well as view or download the slides.
Watch the Replay
View the Slides
To keep up with real estate law in California, including articles, guides, and downloads published by Brewer Offord & Pedersen LLP, visit our California real estate law blog.