Real property holdings in Texas are often the most valuable assets people own. Frequently, one person may not have the capital necessary to acquire a desirable property on their own. It is common for people to buy real property with their spouses.
Some people even pool funds with friends or roommates to purchase a home. Others may unintentionally assume joint ownership of a property. A family member might leave a piece of real estate jointly to multiple beneficiaries.
Joint real estate ownership in theory means there are more people to share the costs of maintaining real property and contribute to the overall upbeat of a parcel or a home. Unfortunately, joint ownership can also lead to Major disputes between co-owners. In some cases, the only way to resolve issues related to joint ownership is to initiate a partition action in the Texas civil courts.
What does a partition action involve?
A hearing for a partition action sees a judge review the history of joint ownership at a property and the complaints or desires of at least one of the joint owners. The goal of a partition action is often to divide or separate the ownership interest in the property. Judges can accomplish that through multiple different means. They can order one party to buy out another. They could order the sale of the property. In cases involving unimproved land, they could split one parcel into multiple separate parcels so that each owner has responsibility for and control over their own parcel.
What leads to partition actions?
There are numerous reasons why someone might decide to initiate a partition action in the Texas civil courts. In many cases, a desire to sell the property is what leads to a partition action. If co-owners do not agree to the sale of a property, someone frustrated by the expense or time investment required to maintain the property could seek to end the joint ownership arrangements.
Other times, partition actions may arise because co-owners do not adequately fulfill their responsibilities. They don’t contribute toward tax and insurance costs or fail to perform crucial maintenance at the property. In scenarios involving joint ownership and disputes about owner responsibility or the disposition of the property, a partition action might be the best solution available.
Going to court to resolve real estate issues can potentially help people to take control of their finances. Partition actions are one of several legal tools available for those embroiled in real estate disputes.