Understanding Your Options Regarding The Partition Of Real Estate
Real estate has long been considered one of the most secure investments available. With the exorbitant real estate prices in Southern California though, many people find joint ownership the only realistic proposition. Often, this is a sound investment strategy with positive results. Unfortunately, sometimes disagreements between joint owners lead to serious problems, and partial owners must resort to partition actions.
At the Law Offices of H. Michael Soroy, we provide skilled legal representation for property owners seeking or opposing the partition of real estate. We work diligently to obtain an orderly resolution to the division of real estate, while also ensuring that our clients’ interests are protected throughout the process. From offices in Los Angeles, we serve clients throughout Southern California.
Effectively Resolving Real Estate Disputes
The division of property, whether by negotiation or partition action, may require joint property owners to resolve a number of different issues. For example, owners may disagree over their respective financial contributions to the development of the property. They may also disagree about the actual value of the property, particularly given the recent swings in property values.
Our attorneys have extensive experience handling a wide range of real estate matters, and a track record of securing successful resolutions. Because of our experiences, we understand the relevant considerations in real estate disputes. This knowledge and background allow us to strategically address all of the issues that may arise.
In many cases, we are able to obtain favorable results through negotiations. We take a pragmatic approach to the practice of law, and recognize the innate value of out-of-court settlements — negotiated settlements are often less costly and time-consuming than results obtained through litigation.
However, if the proper sale price and terms cannot be negotiated, we are prepared to file a partition action and resolve the matter through the courts. Once a partition action is initiated, the court will appoint an appraiser to determine the value of the property, establish a price for the property, place the property on the market and divide the proceeds of the sale. We work closely with our clients through all stages of this process.