If you own real estate in New York and your co-owner does not feel the same way you do about selling it contact Kevin O'Sullivan at (718) 713-3499 ext. 1 for a free consultation to discuss your rights. You can also contact Mr. O'Sullivan by email at: Kosullivan@ozatlaw.com
When two or more people own the same property one of the owners can force a sale of the jointly owned property via a partition action in court. If you co-own property such as a home, building or vacant land with someone in New York and have come to find this co-ownership situation unbearable, undesirable or unaffordable you can under New York State's RPAPL Article 9 Partition law bring a partition action and force your co-owner to either sell the property or buy out your interest.
While many individuals are unaware of this process it is an option for those who can no longer tolerate or afford co-owning property with another person. The courts will not require you to give a reason as to why you want start this lawsuit to sell your interest in the property.
A typical partition case involves multiple beneficiaries of an estate who all inherited the same home. At some point one or more of the co-owners wants to sell the house while another co-owner does not want to sell. To force the sale of the property a party will need to start a partition action.
These interfamily co-ownership situations have become so common that in 2019 New York State enacted the Uniform Partition Heirs Property Act in order to give family members who inherited homes additional protections and procedures when dividing inherited property among co-owners.
Another common scenario often involves family members or business partners who purchase a home or building together but after the purchase they disagree about the management of the property or one party wishes to sell while the other does not.
While it may be necessary to start a partition lawsuit even after the case is started the parties can still work through their attorneys to agree to sell the property without a final court order and divide the proceeds fairly. In this type of settlement it will be necessary to have a binding settlement agreement drafted by your attorney to ensure that the parties follow through on the settlement terms.
Kevin O'Sullivan has brought and defended partition actions on behalf of his clients throughout New York City, Long Island and Westchester. It is his goal to have the co-owners come to an agreement on the sale of the the property, if an agreement cannot be reached he will fight to seek an order from the court regarding the sale of the property to ensure that his clients receive their fair share of its value.
Your home is often your most valuable asset so whether you want to start a partition action or have been named as a defendant in one you’ll need a skilled real estate litigator on your side. If you have any questions about partition actions and would like a free consultation contact Kevin O'Sullivan at (718) 713-3499 ext. 1 today.
This article is meant to be utilized as a general guideline. Nothing in this blog is intended to create an attorney-client relationship or to provide legal advice on which you should rely without talking to your own retained attorney first.
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