Difficulties often arise where a single parcel of real property is distributed to multiple joint owners. The joint owners may have differing ideas for future use of the property. This may give rise to a legal action to divide the property in a process called “partition.” In these cases, the property may be sold with each joint owner receiving their respective share of the proceeds.
Our firm also has experience in dealing with disputes between life estate holders and remaindermen. “Life estate” is a legal term used to designate ownership of property, but only for the length of time that a person is alive. In the event of death, the property goes to the remaindermen. Disputes can often arise between holders of the life estate and the holders of the remainder interest. Determining real estate interests after the death of your loved one can be a complex issue, but the attorneys at our firm want to help you through the process.