Partition Action Florida
Filing A Partition Lawsuit In The State Of Florida – Protect Your Property Rights!
When you co-own a piece of property in Florida, you have an absolute right to seek a partition. Property owners seek partitions for many different reasons. Sometimes, the parties co-own a piece of property because they inherited it jointly. Others purchased a home together and their relationship deteriorated so that they no longer wish to live together. Others still seek a Florida action for a partition of a business because they no longer wish to continue their business relationship.
Regardless of the way the parties started owning property, a Florida action for partition can result in two types of property division. The Florida partition statute provides for partition in kind and partition by sale. A partition in kind physically divides the property. If it is impracticable to divide the property by carving out a portion for each owner, Florida partition sale laws allow the property to be sold at auction. The proceeds from the Florida real estate partition sale will then be divided between the parties according to their share. Partitions by sale are the most common type of partition, because it is extremely difficult to split up most properties that are residential or business properties. Partitions in kind are usually reserved for large tracts of vacant land, where it would be easy to divide the parcel into two separate pieces.
It is important to note that Florida is a lien theory state, which means that any lender or mortgagor has a lien on the property for the amount of the outstanding loan. If the Florida partition action results in a sale of the property, the owners can only take proceeds after the lien belonging to the bank has been paid off.
Florida partition law states that the proceeds or carved up land must be divided among the parties according to their shares in their original tenancy. Florida has three types of tenancies for concurrent owners. They can own a property as joint tenants, tenants in common, or tenants by the entirety. Joint tenants co-own a property with equal shares. This means that when there is a Florida action for partition, the land or monies must be divided equally between the two parties. Tenants in common, however, can own any percentage of the property. When land held as tenants in common is subject to partition action in Florida, it is divided based on the amount each party contributed to the property or the percentage of ownership they contractually agreed to. A tenancy by the entirety is a special tenancy reserved for married couples. Partitions linked with divorce proceedings may need to be heard in conjunction with the divorce process in family court.
If you are the co-owner of a piece of property in Florida, and you no longer wish to own it or reside in it, you have an absolute right to seek a partition of the property. Whether you seek a petition sale in Broward county, or a partition in kind in Pinellas county, a partition lawsuit in Florida can be extremely complicated. You need a quality attorney to help you navigate this complex system.