Partition of Real Estate in Virginia
If you are looking to have a partition in kind performed in order to build, improve upon or sell land that belongs to multiple owners, the first step is to contact a real estate attorney in Virginia. A partition in kind does work better with large plots of land, such as parcels in Prince William County or Loudoun County, however, you may have other options available to you if you do not own a large parcel or land.
Partition in Kind of Real Estate
A partition in kind is one of two types of land partitions that are available to property owners. A partition in kind serves the interest of all individual property owners who own the property. Otherwise referred to as an actual partition, the end result of a partition in kind will award all joint owners with an individual piece of the property in question. In a sense, the land is divided among the owners so there is no longer joint ownership over any of the estate.
Judicially Forced Sale of Real Estate
Sometimes, when dealing with smaller portions of land or with multiple owners, a partition in kind cannot be achieved. This is particularly true if there is an improvement on the property (i.e. house). For instance, if a homeowner owns a condominium or town house in Henrico County on a parcel of land owned by multiple people, it can be difficult for the homeowner to sell the home. As a last resort, a forced judicial sale of the property can be ordered by the court.
During a forced judicial sale of the property, an attorney and the courts would become involved in the process. The real estate property in question would be sold in such a way in order to get the best price for the piece of property. Typically used as a last resort, the forced judicial sale of property can also be used when a plaintiff has not received the judgment awarded by the court. For instance, if a judge in Henrico County orders a defendant to pay the plaintiff a certain amount of money, and the defendant does not produce the funds, a forced judicial sale of property can occur in order for the plaintiff to receive the amount of money he is owed.
If you are facing any of the above issues, be sure to contact a Virginia attorney as soon as possible.