partition action to sell my house

Guest 0.10 Dollars($)

Due to some negotiation problem with my ex-wife I am unable to sell my home. I want to seel it now through Partition action and divide the proceeds equally. I want to have some idea on the matter.

Samantha · Posted: Fri Dec 02, 2005 2:17 pm Post subject:

Hi George,

Through Partition action you can have your property either divided in to distinct portions or sold at a public auction in case the property can not be divided. The earning from there is then distributed amongst the co-owners.

A court referee is involved by the court prior to the sale to see the rights and interests of the owners are maintained and also to determine whether it is necessary to sell the property instead of dividing.

Once, the referee gives clearance for sale, the court orders sale at a public auction. The highest bidder gets the property after the sale and proceeds are first utilized to meet the costs of the court and the expenses in the sale along with the liens. The balance is divided between the co-owners.

Hope you will benefit from this information.

God bless you.

For MortgageFit,
Samantha

Guest 0.10 Dollars($)

Hi Samantha,

This information will help me. Actually I was not sure about the system where I am going to apply.

Thanks for the information.
George

All times are GMT - 7 Hours

Page 1 of 1