A Partition Action Can Only Be Brought by a Party That Has an Interest in the Real Property at Issue in the Case
If such an action goes to litigation in Colorado, the property will either be split into separate parcels (partition in kind) or by selling the property and splitting the proceeds (partition by sale).
Courts prefer to physically divide the property if possible, but in situations where physical division is impractical, such as with a house, the court will usually order a partition by sale.
Avoiding loss of property is very difficult if the other party has a legitimate interest. The only way to completely avoid losing any property in such a situation is by reaching a settlement rather than allowing the court to order partition.
Such a settlement will usually involve one party buying out the other party’s interest. In this scenario, parties will want to get an appraisal for the property so that they can determine a fair purchase value for their interests. Once a fair value is determined, the parties must mutually agree on the price and terms of the sale.
If a settlement involving a buyout cannot be reached, and it is possible to physically divide the property, then you may be able to retain a portion of the property by seeking partition in kind. In this situation, the property will be split fairly based on the interest that each party holds in the property.
Courts prefer this remedy because it does not force a party to sell the property against their will. This solution will only be available when the plots can be divided into individual plots, such as with large tracts of land.
When you need to speak with a Denver Partition Action Lawyer, it would be beneficial to speak with one from Baker Law Group (A Denver Partition Action Law Firm).