Joint ownership of real estate is common in a broad range of situations. Individuals who have lived as roommates for years might decide to buy a home cooperatively because neither can afford a mortgage for a home on their own.
Two families that have a close friendship might pool their resources to buy a vacation home and then work out a schedule for sharing the property every year. Cousins and siblings might inherit a home jointly when a loved one suddenly passes. The co-owners share an interest in the equity accrued in the property, and they also share legal and financial responsibility for the property.
Joint ownership is only sustainable for as long as the co-owners fulfill their financial and practical responsibilities, such as contributing toward insurance premiums and annual tax bills. They also need to agree regarding the future plans for the property. In scenarios where owners disagree about whether to retain the property or sell it or where there are disputes regarding financial and maintenance obligations, pursuing a partition action in the civil courts is sometimes the best solution possible.
What is a partition action?
A partition action is essentially a real estate lawsuit seeking to separate joint ownership. It is a form of civil litigation that specifically asks the court to review the current status of the property and address the contested joint ownership arrangement. Texas state statutes empower judges to address these issues using several different solutions.
In some cases, partition actions are resolved by a judge dividing a single parcel into multiple separate parcels so that each owner retains a portion of the property. Partition actions can also result in one or more owners buying out their co-owners. These lawsuits may end with an order to sell the property and share the proceeds from the sale. In scenarios where co-owners do not fulfill their obligations or find themselves arguing over the future of the property, a partition action is sometimes the best solution.
Civil litigation can result in a fair division of equity or other solutions that effectively terminate co-ownership. Learning more about real estate litigation as a co-owner can help people recognize when they may need to file a lawsuit or strategize for the best response to a pending partition action initiated by a co-owner.