Partition Claim

Partition Claim - A partition claim is a legal action filed by one or more co-owners of a property, such as real estate, who seek a court-ordered division or sale of the property when they cannot agree on its use or disposition. This claim is typically used when co-owners have conflicting interests or cannot reach a consensus on how to manage the property. The court's decision in a partition claim may result in the property being physically divided among co-owners or sold, with the proceeds distributed among them according to their ownership shares.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RCjT6JrE5Wiqv2CL7N2Jdh1
Label (rdfs): Partition Claim
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Definition and Examples

Definition: A partition claim is a legal action filed by one or more co-owners of a property, such as real estate, who seek a court-ordered division or sale of the property when they cannot agree on its use or disposition. This claim is typically used when co-owners have conflicting interests or cannot reach a consensus on how to manage the property. The court's decision in a partition claim may result in the property being physically divided among co-owners or sold, with the proceeds distributed among them according to their ownership shares.
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Class Relationships

Sub Class Of: Property & Premises Liability Claims
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Additional Information

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Deprecated: False

Metadata

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