Who Gets the Property?
When two parties co-own a property, and one or both parties want to get out of the arrangement, serious issues can arise. Especially when there is no partnership agreement that lays out the procedures for settling these property disputes, and especially if neither party wants to give up their ownership interests, co-owners can find themselves with a significant problem.
At Chenoweth Law Group, we have helped many clients through this dilemma and other real estate dispute matters throughout Oregon, Washington, and California. From our Portland office, our attorneys know how to work with our clients and their disputing partners to find creative, equitable solutions.
Partition actions can be among the most difficult to resolve. When neither party wants to sell the property, or neither party is able to buy the other out, it may seem like an equitable resolution is impossible. At CLG, our lawyers have handled this type of case before, and we work diligently to find creative, equitable solutions. When that option is unavailable, we represent our clients’ interests aggressively in court.
When a case like this is handled in the court, there are generally three possible options:
- Forced sale: The most common result in court is a forced sale and the proceeds split between the two parties.
- Buy-out: One party buying out the other party’s interests is a rare result, at least when cases go to litigation. If this was a viable option, usually it would be decided in negotiation without the need for litigation, but it does come up as an option occasionally in litigation.
- Splitting the property: This option is extremely rare, as it is usually not a workable solution. But on occasion, a court can split a property in half and have each party take ownership of half.
The most important thing your lawyer should do is discuss your goals with you. At CLG, we are committed to taking the time necessary with each client to make sure we are fighting for their interests and getting them the results they really want. At CLG, we are here to help you.