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 classic literature ?
Pickwick nodded assent, and coughed to attract the attention of the young gentlemen behind the partition, who, having now relaxed their minds by a little conversation among themselves, condescended to take some notice of the stranger.
A sudden scraping of feet, mingled with the sound of suppressed laughter, was heard from behind the partition.
The UNSCOP report is naturally presented in its full extent as it represents probably one of the most significant documents related to the partition of the Mandate Palestine.
If the system power under a specific partition exceeds the TDP, then that partition will not be among the suggested ones.
Rao, "The partition problem," Mathematical Programming, vol.
The 1947 Partition Archive is to preserve 10,000 stories and create a source of learning for future generations before it is too late.
The policies pursued after partition could not treat the Sindhis and muhajirs alike, nor the Muslims and Hindus alike.
MY FAMILY, PARTITION AND ME: INDIA 1947 BBC1, Wednesday, 9pm
Visitors look at the installations of the newly inaugurated Partition Museum in Amritsar.
The post Seventy years after India, Cyprus is on the road to partition appeared first on Cyprus Mail .
Summary: The partition of India in 1947 resulted in the largest forced migration in human history -- of almost 10 million people
Project Treble compatibility requires the system partition and vendor partition to be separate.