Tennessee, often referred to as the Volunteer State, is known for its rich history, breathtaking landscapes, and vibrant communities. It's no wonder that many individuals and families choose to invest in real estate within this picturesque state. However, disputes among co-owners of real estate can sometimes arise, leading to the need for legal action to partition or divide the property. In this blog, exploring what Tennessee's real estate partition law entails and how it can help resolve real estate disputes.
WHAT IS A REAL ESTATE PARTITION?
Real estate partition is the legal process of dividing jointly owned property among its co-owners when they cannot agree on its use, management, or sale. In Tennessee, like in many other states, the law recognizes that co-owners have the right to seek partition to resolve disagreements and ensure their property interests are protected.
types of real estate partition
There are two primary types of partition actions in Tennessee:
Partition in Kind: Also known as a physical division, this type of partition involves physically dividing the property into separate portions, allowing each co-owner to have their share. This method is more common with large tracts of land or properties where division is feasible.
Partition by Sale: If a physical division of the property is not practical or if the co-owners cannot agree on the terms of division, the court may order a sale of the property. The proceeds from the sale are then divided among the co-owners according to their ownership interests.
when can you seek partition in tennessee?
Tennessee Real Estate Partition Law allows co-owners to seek partition under certain circumstances, such as:
Lack of Agreement: When co-owners cannot agree on how to use, manage, or sell the property, and no alternative resolution can be reached, partition may be sought.
Financial Hardship: If one or more co-owners face financial hardship and need to sell their share of the property to alleviate their situation, partition may be an option.
Unequal Ownership: When co-owners do not have equal ownership shares, partition can help ensure that each party receives a fair share of the property's value.
Disagreement Over Property Use: If co-owners have differing opinions on how the property should be used, such as residential versus commercial purposes, partition may be necessary to resolve the dispute.
The partition process
The partition process in Tennessee typically follows these steps:
Filing a Partition Lawsuit: A co-owner who wishes to seek partition must file a partition lawsuit in the appropriate Tennessee court, which can be either Chancery or Circuit Court, depending on the circumstances.
Court Assessment: The court will assess the situation, including the property's value, ownership shares, and any potential hardships faced by co-owners.
Partition Order: Based on the court's assessment, it will issue a partition order, determining whether the property should be divided physically or by sale. The court may appoint a commissioner to oversee the process if a sale is ordered.
Division or Sale: If a physical division is ordered, the property will be divided among the co-owners as per the court's instructions. In the case of a sale, the property will be sold, and the proceeds will be distributed among the co-owners according to their ownership shares.
Resolution: Once the partition is complete, the dispute is resolved, and the co-owners can move forward with their respective interests in the property.
cHOOSE rochford laW: Your Trusted Partner for Tennessee Real Estate Solutions
At Rochford Law, we understand the nuances of Tennessee's real estate laws, including partition actions, and are committed to helping our clients achieve the best possible outcomes for their real estate needs. Our team of skilled attorneys has a proven track record of providing expert legal advice and representation, ensuring that your interests are protected throughout the process.
Whether you find yourself in a dispute with co-owners, need assistance with property transactions, or require guidance on real estate matters in Tennessee, Rochford Law is here to assist you every step of the way.