Partition Action Lawyer for Properties
Under WV Real Estate Law
Properties Requiring Partition Actions Need Trump & Trump, L.C. Expertise
Trump & Trump, L.C. offers attorney services for clients who seek to divide parcels of property. West Virginia real estate law uses three types of partition: partition in kind, partition by allotment, and partition by sale. Our lawyer will meet with you to discuss your partition needs and work on the right form of partition action motion that will protect your interests.
Partition In Kind Divides the Property Itself
Some may consider partition in kind to be the preferred method of partition. Partition in kind divides the property itself. An easy example of partition would be where two people both own an equal percentage of the property, say 50 percent each, the land might be divided equally with one-half going to each owner. Instances where matters are not evenly divided may require an assessment or valuation before the owners agree on how to best divide the property.
Partition by Allotment Where Interest is Sold Off
In this type of partition action, one owner expresses willingness to buy out some or all of the other owner’s interest in a property. When there are multiple owners that share interest in the property, this type of partition may take some time to complete. There may be persons who withhold approval of the sale or who may not agree on its value.
Partition by Sale Divides the Proceeds
Partition by sale is a court-ordered division of real estate owned by two or more people. With a partition by sale action, the property is sold and proceeds from the sale go to the owners according to the percentage they own. If two owners shared a property worth $100,000, an owner with 40 percent interest would get $40,000 and an owner with 60 percent interest would receive $60,000, after deducting the costs associated with the partition action and sale. Because of this, partition by sale generally occurs only when the first two types (partition in kind or partition by allotment) would not be practical or fair.
For more, see: http://www.wvlegislature.gov/wvcode/Code.cfm?chap=37&art=4