Owning property jointly offers convenience and, in fact, is fairly common; however, when the owners can no longer agree on what to do with the property or how to use it, it puts those involved in a bind since one cannot literally split a house or other property in half, at least, not without greatly diminishing the property’s value.
A partition action in many ways is just like any other lawsuit in that the other owners have to be brought in to court so that they have the opportunity to defend their rights and make their case. The Nevada court hearing the partition case has two basic options for resolving the dispute. The Court can literally partition the property by giving each property owner his or her rightful share in the land and re-dividing the land accordingly. If the court cannot partition the property physically without financially hurting all of the owners, then the court can simply authorize a court-supervised sale of the land and divide up the proceeds. The court can also order a sale of the property if all the owners agree to it.
A partition action can and usually does prove to be an invaluable tool for a landowner who needs to break a gridlock with his or her business partner or even family member or personal companion. Landowners should be aware that partitions are complicated real estate law matters which may necessitate the assistance of experienced Nevada attorneys like Black & LoBello.