In simple terms a real estate partition is dividing real estate interests. When the real estate is a large tract of land, the partition may be done as a partition in kind by dividing the land into sections. This process can be simple or complex depending on several factors. The goal is to make sure that the division or partition is fair among the owners. However, when the real estate is a house, building, or other real estate that may be impractical to divide ownership of a house or building the partition may need to be a partition by sale.
A partition in kind is a division of the property itself, whereas partition by sale constitutes a forced sale of the land, followed by division of the profits thus realized among the owners of the real estate. A common example of the partition by sale occurs when more than one person inherits a house or building.
A Real Estate Partition often occurs after heirs or beneficiaries inherit a house or other real estate that cannot be divided. In some instances all or some of the heirs or beneficiaries live out of state or have their own homes and have no need for another house. In other instances one or more of the heirs or beneficiaries do not want a house and the other heirs cannot afford to purchase that heir's interest in the house or building. In these situations, a real estate partition by sale may be necessary.
Texas Real Estate Partition Lawyer, Texas Real Estate Partition in Kind Lawyer, Texas Real Estate Partition by Sale Lawyer, and Texas Partition Lawyer
Texas Probate Real Estate Partition Lawyer and Texas Real Estate Inheritance Partition Lawyer handles Texas real estate partition lawsuits, Texas inheritance forced sale lawsuits, and Texas probate real estate partition lawsuits where estate property needs to be sold or partitioned. For questions on Texas Real Estate Probate matters, use our property Partition Lawsuit contact form or please send an e-mail message to Texas Probate Real Estate Partition Lawyer and Texas Real Estate Inheritance Forced Sale Lawyer Jason S. Coomer.