Partition by Appraisal

Our Los Angeles based partition attorneys have extensive experience dealing with partition disputes in Los Angeles and throughout California.  One method of resolving partition disputes (disputes involving disagreements over whether to sell real property) is through partition by appraisal.

Partition by appraisal in California is a partition that is accomplished through one party purchasing the other party’s interest in real property on certain agreed terms, under court supervision and based on a third party appraisal.   There is a common misconception among attorneys and the court that a partition by appraisal can be forced – it cannot.  Partition by appraisal per Code of Civil Procedure section 873.910 requires an agreement among the parties.

The way a partition by appraisal typically occurs is the parties agree that one of the parties would like to retain ownership of the jointly held property.  The parties then agree to an appraisal process whereby the party wishing to retain ownership of the property agrees to buy out the other party’s interest based on an independent appraisal.   This can be an efficient way of resolving ownership and partition disputes because it can eliminate many of the high transaction costs associated with an open market sale like broker commissions and escrow fees.

Of course, if the parties do not agree to partition by appraisal per Code of Civil Procedure section 873.910 then this is not an option.  Where partition by appraisal is not agreed upon, the parties then must seek partition by a judicial sale, by private sale or through actual physical division of the property when possible.

For more information on partition remedies contact us by filling in the contact box on the right side of this page, email us at info@schorr-law.com or call to inquire about a free consultation at (310) 954-1877.

 

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Posted in Partition, Real Estate Attorney Los Angeles

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