Larry, Moe and Curly own an investment property as tenants in common. Because of a recent business disagreement, Curly wants to
divest himself of the property. If the three owners cannot mutually agree on a plan to settle the matter, Curly may seek an equitable distribution of the property by filing what?
A partition suit is a type of lawsuit that seeks to settle the differences that is involved among co-owners of a property, who could not agree on the division or sales of a jointly owned property. A partition suit could be filed by any of the co-owners of the property, in order for the court to rule on the case, in such a way that the property that is jointly owned by the individuals is shared according to a particular ratio or based on bounds.
Since Curly wants to divest himself of the property that is jointly owned by three of them, and the three of them could not find an agreeable plan on how to equitably divide the property that is jointly owned, Curly should file a partition suit in order to seek an equitable distribution of the property.
Partition suit is a legal process seeking to divide a joint property such as land, buildings among co-owners so that each person gets a share and have an exclusive ownership of the share allotted to him.
The property is generally divided according to the shares each of the owners is entitled to.
