NY Real Estate Partition Action Lawyer

New York Real Estate Partition Action Attorney

NY Real Estate Partition
If you are a part-owner of a house, condominium unit, co-op apartment, commercial real estate or other real estate in New York State, you and the other co-owners might not share the same goals regarding the property. One co-owner might want to live in the property, while another might want the property to produce rental income, and another might want the co-owners to invest money to renovate the property, while another might want to sell the property in order to cash out his or her ownership interest. If co-owners of New York real estate cannot agree on whether to keep or sell the property, renovate the property, rent the property, or other important management issues, a partition of the property may be the solution. As an experienced NY Real Estate Partition Attorney, we may be able to help resolve your dispute regarding the joint ownership of New York real estate, either by a negotiated settlement, or by a New York Real Estate Partition Action.

A Real Estate Partition Action Attorney Can Help to Resolve Disputes Among Co-Owners
Often the co-owners of NY real estate are brothers and sisters, or other blood relatives, and their disagreements about their co-ownership of the property has negatively affected their family or personal relationship. The co-owners may have purchased the property as tenants in common, or as joint tenants, or they may have inherited the property, and their expectations regarding the property are incompatible. The co-owners may be investors whose intentions regarding the property have changed. Alternatively, the co-owners may have been domestic partners when they purchased the property, but their personal relationship has ended. There may also be financial issues regarding the disparity in the co-owners’ respective contributions toward the down payment, mortgage payments, real estate taxes, renovations, maintenance, repairs, etc.

A New York Real Estate Partition Action Attorney can objectively examine the issues, and provide practical and legal advice. Our legal representation often de-escalates the disagreements or hostility, and facilitates an amicable resolution. As an experienced Real Estate Partition Action Attorney, we are often able to negotiate a resolution of the disputes among the co-owners of New York real estate, prior to litigation. We have successfully resolved many disputes among co-owners of real estate, both before and after a Real Estate Partition Action has been filed.

We Represent Co-owners of Real Estate in Resolving Disputes and in NY Real Estate Partition Actions
As an experienced New York Real Estate Partition Action Attorney, we can often negotiate a favorable settlement of a dispute among co-owners of real estate in New York, without the need for a partition action or other litigation. One option is for our New York partition lawyer to negotiate the terms of a buyout of one of the co-owner’s ownership interest in the real estate by another co-owner.

If it is impossible to negotiate a favorable settlement of the dispute among the co-owners of the property, the only remaining alternative may be to commence a Real Estate Partition Action. We represent clients in bringing or defending New York Real Estate Partition Actions. Our New York Real Estate Partition Action Attorney also zealously represents our client’s interest in being properly compensated for the contributions made toward the down payment, mortgage payments, real estate taxes, maintenance and upkeep of the property. This is particularly important if the co-owners’ contributions toward the purchase and upkeep of the property have been disproportionate to their ownership interests.

New York Real Estate Partition Actions
A real estate co-owner’s legal right to bring a lawsuit for partition of the property is governed by New York Real Property Actions and Proceedings Law (RPAPL Article 9). New York courts will generally grant a partition action when the co-owners cannot agree on the management, use, or sale of the property. A co-owner may commence a partition action, whether the property is owned as tenants in common, or joint tenants with right of survivorship. The main exception to entitlement to partition of NY real estate is if a co-ownership agreement, or a Last Will and Testament pursuant to which the co-owners inherited the property, prohibits or limits the right to partition the jointly ownd property.

Is a Partition Action Proper if Married Co-Owners are in a Divorce Proceeding?
A partition action will usually not be an available remedy where the co-owners were married to each other when they purchased the property, and there is a pending divorce proceeding. If the real estate was purchased during the marriage, it will likely be considered marital property, and the parties’ ownership interests and manner of disposition of the property would typically be determined in the divorce action. In some situations, however, the divorce decree defers determination of the parties’ respective interests in the co-owned property, to another court. In that situation, a partition action may be the way to determine the parties’ respective interests in the co-owned property, if the parties cannot reach a mutually agreed resolution of the issues regarding the co-owned property.

Partition in Kind
If the real estate can be physically divided (such as where there are two similar buildings on the property), the court could direct partition in kind or an actual physical partition of the property. In a partition in kind, each owner is granted complete control of a specific portion of the co-owned property (such as one of the buildings and half of the land.)

Partition by Sale
Usually, the property cannot be physically divided, or a physical division of the property would be prejudicial to one or more of the co-owners. Therefore, the more typical result of a NY partition action is a court ordered sale of the property, with the proceeds distributed to the co-owners as directed by the court. In a partition by sale, the court appoints a referee and directs that the referee sell the property. All outstanding mortgages and other liens are satisfied at the closing of title out of the sales proceeds, and the remaining net proceeds are divided among the co-owners, in accordance with the court order.

If the co-owners’ financial contributions toward the purchase and upkeep of the property were significantly unequal, the court order may direct a similarly unequal distribution of the net sales proceeds. The court may also consider whether any co-owners occupied the premises, and if so, whether they paid rent to the other owners, and whether the other co-owners were prohibited from occupying the premises. Also, if the property produced rental income, the court may consider how the rental income was distributed to the co-owners. These potentially inequitable circumstances will usually be addressed in the court’s analysis of how the sales proceeds will be distributed between or among the co-owners.

How Can Our NY Partition Action Lawyer Help You?
When you hire our firm to be your New York partition action lawyer, we can try to negotiate a favorable settlement for you prior to commencing litigation. If that is not possible, we can represent you in a New York Real Estate Partition Action. We represent co-owners of real estate, whether you are seeking to keep your part ownership interest in the property, or seeking to commence a New York Real Estate Partition Action, in order to convert your part ownership of the property into cash.

Contact Our NY Real Estate Partition Action Attorney
We invite you to contact our NY Real Estate Partition Action Attorney to discuss your dispute with the co-owners of your New York property, and a possible Real Estate Partition Action.

General Disclaimer

The information contained in this website is not intended to constitute legal advice, nor to create an attorney-client relationship or lawyer-client relationship. We recommend that you discuss your legal matter or case with a NY lawyer or New York attorney promptly.

Visiting our website, submitting any information via questionnaire or email, or discussing your case with us does not create an attorney-client relationship. An attorney-client relationship with our law firm can only be established with the signing of a written retainer agreement prepared by our law firm.

Visiting our website, submitting any information via questionnaire or email, or discussing the issues concerning your co-ownership of New York Real Estate, and possible New York Real Estate Partition Action, with our NY Real Estate Partition Action Attorney does not create an attorney-client relationship. An attorney-client relationship with our law firm or with our NY Real Estate Partition Action Attorney can only be established with the signing of a written retainer agreement prepared by our law firm.

This website is not intended to solicit clients for Real Estate Partition Actions involving real estate located outside New York State, or any other legal matter outside of New York State.

Law Offices of Michael W. Goldstein is a New York Real Estate Partition Lawyer, and New York real estate litigation law firm, representing Real Estate Partition Action clients, and NY real estate litigation clients throughout New York State, including New York City, Manhattan, Bronx, Brooklyn, Queens, Staten Island, Long Island, Nassau County, Suffolk County, Westchester County, Rockland County and upstate New York.

Prior results do not guarantee or predict a similar outcome with respect to any future case or legal matter.

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