How to Legally Remove a Non-Cooperative Co-Owner Through Partition & Sale

When disputes arise with a co-owner in a real estate transaction, the benefits of that financial relationship can begin to diminish. To avoid a protracted period of disagreement, the state of New York allows one co-owner to file a partition lawsuit. This can result in either a division of the property or a sale and distribution of the proceeds. 

Fairness is at the core of decision-making. The decisions made in relation to NYC real estate are especially important when you consider the value of properties and the complex nature of real estate laws in New York City.

Examining Partition Lawsuits

Co-owners of real estate need to be able to see eye to eye on a number of topics related to their mutual investment. Questions on how to manage the property, including a possible sale, may result in a partition being utilized.                              

One of the challenges that comes alongside co-ownership of real estate has to do with whether the property needs to be sold. One co-owner may have a vision of taking advantage of a strong seller’s market.

 If a co-owner prefers to retain ownership of the property, then a partition agreement may work out for all parties involved. The Knox Law Group understands these challenges and provides interested parties with an opportunity to learn more and receive feedback in a free consultation.

What is the process like for partition lawsuits in NYC?

Court-ordered sales, which result from partition lawsuits, typically involve an auction rather than a physical division of the property. The process of dividing a property between multiple owners would reduce the property value so much that it would make division an extremely unattractive option for consideration. 

Dividing the sale proceeds in a partition lawsuit 

Once the partition has occurred, a court must determine the most appropriate manner to divide the proceeds from the sale of the property. The court must determine the individual ownership percentages. From there, the court will divide the property accordingly. 

All expenses that have been incurred by any party to the partition lawsuit must be paid prior to the proceeds being distributed. 

Is it possible to avoid a partition lawsuit?

Owning a property with a non-cooperative co-owner is not an ideal situation. Identifying opportunities to negotiate prior to the filing of a lawsuit is a prudent step to take. There may be a middle ground to pursue that does not involve filing a partition lawsuit. 

Depending on the specific dispute, attending mediation can force the co-owners to all take a long, hard look at the situation before making a decision to file a lawsuit. 

Contact the Knox Law Group with questions about partition lawsuits

It can be rewarding to co-own NYC real estate- at least until disagreements begin to arise. Address those disagreements with the assistance of the Knox Law Group. 

Our team of legal professionals offers free consultations to help you develop a strategy geared towards protecting your rights. Contact our office today to learn more from an experienced NYC partition attorney.