partition


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Related to partition: Partition Magic

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 classic literature ?
And for the Heav'ns wide Circuit, let it speak The Makers high magnificence, who built So spacious, and his Line stretcht out so farr; That Man may know he dwells not in his own; An Edifice too large for him to fill, Lodg'd in a small partition, and the rest Ordain'd for uses to his Lord best known.
Don Quixote rose betimes, and bade adieu to his hosts by knocking at the partition of the other room.
Apparently they were coming from the opposite side of the partition against which I leaned and presently I made out the tones of Dejah Thoris.
The evening meal over Meriem had gone to her pallet in the women's quarters of The Sheik's tent, a little corner screened off in the rear by a couple of priceless Persian rugs to form a partition.
He maddened me particularly when he read aloud the psalms to himself behind his partition.
They looked hesitatingly around them, and appeared to doubt the thickness of the partition between them and the office of M.
I resolved to set out, and did set out at that very instant, carrying with me the beginning of my great work, the unity of the Italian kingdom; but for some time the imperial police (who at this period, quite contrary to what Napoleon desired so soon as he had a son born to him, wished for a partition of provinces) had their eyes on me; and my hasty departure, the cause of which they were unable to guess, having aroused their suspicions, I was arrested at the very moment I was leaving Piombino.
And if the partition which she made with the Venetians in Lombardy was justified by the excuse that by it she got a foothold in Italy, this other partition merited blame, for it had not the excuse of that necessity.
The fact that I live in the kitchen merely means that I live behind the partition wall in that apartment--that I live quite alone, and spend my time in a quiet fashion compounded of trifles.
The closet into which D'Artagnan and Porthos had been ushered was separated from the drawing-room where the queen was by tapestried curtains only, and this thin partition enabled them to hear all that passed in the adjoining room, whilst the aperture between the two hangings, small as it was, permitted them to see.
Not contented with tearing off all the wainscot and hangings, and splitting the doors to pieces, they beat down the partition walls; and although that alone cost them near two hours, they cut down the cupola or lanthorn, and they began to take the slate and boards from the roof, and were prevented only by the approaching daylight from a total demolition of the building.
Dinah put her ear to the partition and heard still some slight noises, which convinced her that Hetty was not yet in bed.