If you and your spouse are considering divorce, you may need to decide how to equitably split any property in which you have shared ownership. An action for partition is the separation of jointly owned property, either by division or sale.
A partition in kind, also called a partition by division, divides the house or land between the two parties. That means you will no longer co-own the property. Instead, you’ll each own a portion of the property in your own name.
However, a partition in kind isn’t always practical or desirable, such as with the primary residence you shared when married. Partition by sale could then be the best answer. In that situation, the property will be sold to a third party and the proceeds from the sale distributed to you both.
Partition Actions Can Be Complicated
When you want a partition action to divide or sell your property, you should speak with a knowledgeable partition action attorney. A partition action must be filed with the courts and can be extremely complex.
Schlegel Law Group in Orlando, Florida has an extensive background in filing partition actions for both traditional and same-sex couples.
In the case of a voluntary partition in which you and your spouse have agreed to either divide or sell the property, we can develop an agreement that ensures your rights are protected and the transaction proceeds smoothly.
If the partition is not voluntary, you may need to obtain a court order to force the division of the property. In that situation, you’ll want an experienced real estate attorney to help you in what could be a lengthy and complex process.
Among the factors the judge will consider in dividing property are:
- The health, lifestyle, and educational needs of the spouses and children
- The financial contributions each spouse has made to the marriage
- Child custody arrangements and whether children can remain in their home
- The current financial circumstances of each spouse
- Any misconduct by either spouse that affected the marital assets