Tailored Partition of Property Services
If you co-own property with someone, like a spouse, friend, business partner, or beneficiary, it is important to know what options you have when you fall into serious conflict over co-ownership. Disputes are sometimes unavoidable, but Pettit and Company can help.
What is Partition of Property Law?
There are various reasons for co-owning real estate, including:
- financial necessity (such as parents assisting their children)
- investment opportunities or business ventures
- estate planning including jointly inheriting property
- personal factors like marital agreements or multigenerational households.
Decisions on a co-owned property can range from informal agreements and discussions among friends and family to legally binding contracts. It's advisable to document any agreements, decisions, or important discussions in writing and ensure all parties involved acknowledge them to prevent potential disputes.
Unfortunately, there may come a time when co-ownership of a property is no longer feasible, such as during relationship breakdowns or changes in personal or financial circumstances. Additionally, co-owners may disagree on how to handle the property. In such situations, the Partition of Property Act may offer legal solutions.
Under the Act, the court has wide powers to either order a partition or division of the property or, alternatively, order the property to be sold and the proceeds of the sale distributed among the co-owners. Furthermore, the court may order any necessary investigations to determine if a sale or partition is warranted.
Under the Act, the court has wide powers to either order a partition or division of the property or, alternatively, order the property to be sold and the proceeds of the sale distributed among the co-owners. Furthermore, the court may order any necessary investigations to determine if a sale or partition is warranted.
Here are some additional points to keep in mind:
- The Act applies to all forms of co-ownership, including joint tenancies and tenancies-in-common.
- Whether to order the sale or partition of a property is at the court's discretion, and the judge will consider the interests of all parties involved.
- The Act includes provisions that allow other co-owners to purchase the applicant's share of the ownership interest or for interested parties to bid on the property when an applicant seeks its sale.
Dealing with matters under the Partition of Property Act can be complicated. If you have any questions about your rights concerning a property or estate, we're here to assist you.
Our Process
We take a client-centered, cost-effective approach to resolving disputes under the Partition of Property Act.
No two disputes are identical. There is no ‘one size fits all’ approach. That said, generally speaking, we will encourage our clients to try to reach a fair resolution short of litigation. Generally, this is the most cost-effective approach.
However, it does not always work in all situations unfortunately. Then litigation is needed.
We have significant litigation expertise. Where litigation is needed to resolve a dispute among co-owners, we can help. Our goal is to provide cost-effective representation in litigation.
Where litigation is required, we will prepare the petition and supporting affidavit materials, serve the other co-owners with the legal process, and move the matter forward to a hearing and a resolution of the matter. Most often, this involves the sale of the property in question.
Of course, settlement can occur at any stage in litigation. Our aim is to assist our clients in securing a just and fair settlement.
However, it does not always work in all situations unfortunately. Then litigation is needed.
We have significant litigation expertise. Where litigation is needed to resolve a dispute among co-owners, we can help. Our goal is to provide cost-effective representation in litigation.
Where litigation is required, we will prepare the petition and supporting affidavit materials, serve the other co-owners with the legal process, and move the matter forward to a hearing and a resolution of the matter. Most often, this involves the sale of the property in question.
Of course, settlement can occur at any stage in litigation. Our aim is to assist our clients in securing a just and fair settlement.
Locations Served
We have offices in North Vancouver and Squamish but provide services across British Columbia including Kelowna and the Okanagan, Vancouver Island and the Gulf Islands, the Sunshine Coast, the Kootenays, the Cariboo, the Thompson-Nicola region and Northern British Columbia.
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At Pettit and Company, the client comes first. As a firm, we work collaboratively across practices in order to provide our clients with that which they deserve: excellence in legal services at reasonable rates.
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