Feasterville, PA -- (SBWIRE) -- 01/11/2018 -- Sometimes, a land or property is owned by a single entity, giving that person full rights to its sale and management. In addition, there are other instances where two or more parties share land interests and must agree on its management or sale. However, when co-owners cannot agree on its management or sale, it is in the best interest of these individuals to consult with The Law Offices of Michael Kuldiner, P.C., Philadelphia, PA's go-to team of real estate lawyers, for further information regarding a real estate partition action to resolve the dispute.
Any person who owns land or real estate with another can bring a partition action to court to properly divide the parcel. For whatever reason the entities that own the land want to part ways—whether through divorce or different interests on how to invest the property—a court proceeding, or partition action, is the most sensible option to divide its value.
There are two ways to go about a partition action. The first way, partition in kind, is to physically split the property in half and give both parties their fair share of land. Generally, this option is not feasible for a residential property, as it is hard to split a home structure in half. The second way to go about a partition action, partition by sale, is when the property is sold at a certain value, and each co-owner collects their fair share of the proceeds.
Although partition act proceedings can vary, for the most part, they tend to be straightforward and simple. At this time, all parties involved have the opportunity to resolve the partition action amicably and settle the manner to decide who will keep the real estate, when it will be sold, and how its profits will be divided.
The Law Offices of Michael Kuldiner, P.C. is dedicated to resolving and guiding its clients in the right direction when it comes to real estate partition actions in Pennsylvania. To speak with one of the firm's real estate attorneys located near Montgomery County, PA, please call 215-942-2100 to schedule a consultation today.
About The Law Offices of Michael Kuldiner, P.C.
The Law Offices of Michael Kuldiner, P.C. provides legal services in the areas of real estate law, business law, family law, estate planning, and civil litigation. The four attorneys at the firm, Michael Kuldiner, Michael Petro, Shauna Quigley, and Dara Burns, are all highly-qualified and experienced attorneys, especially in the area of family law. They have ably represented numerous clients in Bucks County and surrounding areas.
To learn more about their practice, visit http://phillyesquire.com/ or email info@PhillyEsq.com.