Judicial Partition of Real Property by Dale S. Alberstone, Esq.

Judicial Partition of Real Property
by Dale S. Alberstone, Esq.

Apartment buildings are often owned jointly by two or more individuals as tenants-in-
common. Upon acquisition, the parties usually have harmonious ideas for the
investment. Over time, however, disputes may arise concerning the management of the
building, the desirability of refinancing the property, strategy for its sale or exchange, etc.
Sometimes one co-owner believes that another is embezzling funds or otherwise cheating
in the operation of the building. One owner may want to sell, whereas the other may not.
Income tax consequences of continued ownership may also create problems between the
owners.

If such disputes cannot be amicably resolved by the co-owners, the Superior Court has
jurisdiction to offer the parties relief in connection with the sale or division of the
property. The procedure is technically known as “partition,” which is usually followed
by a judicial accounting.

A partition of real property means that the Superior Court will supervise its physical
division, or alternatively its sale, and thereafter order an allocation of any proceeds
through appropriate accounting procedures. The Superior Court’s jurisdiction is
conferred by one of the co-owners filing a “Complaint for Partition” which names all
other co-owners as defendants. A partner in a partnership may also file an action for
partition unless it is forbidden by the partnership agreement. (An ...