How does a petition to partition property work?

12/05/2008 - Real Property - State: NH #14745

Full Question:

How does a petition to partition property work?

Answer:

An action for partition usually arises when there is a dispute as to how to divide property, or in a dispute as to whether property should be sold. One co-owner of real property can file to get a court order requiring the sale of the property and division of the profits, or division of the land between the co-owners, which is often a practical impossibility. Normally, a partition order provides for an appraisal of the total property, which sets the price for one of the parties to buy out the other's half. The partition statutes govern actions for partition of real property and, in many cases, actions for the partition of personal property. The partition statutes do not apply to property divisions under the Family Law Act or in other types of cases specifically governed by other statutes.

A partition action may be initiated and maintained by a co-owner of personal property; an owner of an estate of inheritance, an estate for life, or an estate for years in real property where such property or estate therein is owned by several persons concurrently or in successive estates. Generally, a partition action may be maintained only by a person having the interest in the property, however, an equitable interest, is sufficient to support a partition action. A 'partition in kind' refers to land partitioned conveniently and equitably between or among the owners. Alternatively, it must be sold as a single parcel and the proceeds divided among the owners.

If two or more people who own a property as tenants in common or if people who are not married to each other own a property as joint tenants with right of survivorship develop a dispute concerning the property, any owner may bring a partition action with the court to get the property divided between owners. While the lawsuit is pending, all owners will have equal access to and interest in the property. This arrangement applies regardless of whether the mortgage is in one owner's name or the name of all owners.



Please see the New Hampshire statutes at:

http://www.gencourt.state.nh.us/rsa/html/NHTOC/NHTOC-LVI-547-C.htm

Please see the information and forms at the following links:

http://definitions.uslegal.com/p/partition/
http://definitions.uslegal.com/c/civil-causes-of-action-partition/
http://lawdigest.uslegal.com/real-estate-laws/boundary,-property-and-title-disputes/7352/
http://secure.uslegalforms.com/cgi-bin/forms/search.pl?query=partition&state=NH&field=title

12/05/2008 - Category: Real Property - State: NH #14745

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