partition

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partition

The division of real property into separate parcels for joint owners who no longer wish to own the property together.If possible,a court must physically divide the property into shares of equal value and quality.If not possible,the court will order a sale of the property with the proceeds to be split among the owners.Partition actions are encountered most often when an owner of real property dies without a will but with several heirs.If they cannot agree on a disposition of the property, it will be partitioned. In the alternative, investors will often buy an undivided interest from a minority heir for very little money and then petition a court for partition.Usually the investor will be able to buy the property at the partition auction, because none of the other owners can afford to purchase the whole.The strategy is not intended to obtain a bargain price for property,because the court will usually order an appraisal and prohibit any owner from buying at a price less than the appraised value. Rather, the practice is intended to force property onto the market even though some or most of the other owners have no desire to sell.

References in periodicals archive ?
A survey on nature inspired metaheuristic algorithms for partitional clustering ", Journal of Swarm and Evolutionary computation, 16: 1-18.
Many papers proposed clustering algorithms depend on the density-based, Partitional, and Hierarchical types.
Partitional calorimetric studies of man during exposures to thermal transients.
In this paper, we present a new Clustering algorithm namely O-Means Clustering using Minimum Spanning Tree (OMCMST) which fuses the particular strength of the divisive hierarchical clustering and center-based partitional clustering methods using Minimum Spanning Tree resulting in performance enhancements.