What Is Property Partition?
Property partition is an owner’s right to divide their land into several parcels. If you own real estate with another person in Florida and want to split it up or sell it, you can do so under Florida laws. Suppose the assets at issue in a partition dispute can be divided into equal portions with equal value or divided under ownership interests. In that case, the Court may declare an equal share of the property.
When real property, such as a home, cannot be fairly divided, the court will often order its sale and distribute the revenue equitably or following the parties’ ownership interests. When one owner wants to split their property but can’t afford to buy out the other owner’s stake, property partition is a fair solution.
You need legal counsel to handle the partition process because it entails complex stages. Leave nothing to chance or wishful thinking; have it done properly with the guidance of a Florida property partition attorney. Call or visit The Estate Plan to talk to one of its partition attorneys.
For business owners, estate planning is a great way to ensure that the business is passed on to the right person upon the owner’s passing. Read on to learn how it works for business succession.
The Estate Plan
135 San Lorenzo Ave Suite #750
Coral Gables, FL 33146
(305) 677-8489
https://www.TheEstatePlanFL.com/
