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 ?
Many of the features analysts typically cite as partitioners of melodic lines - rests, durations markedly longer or shorter than those preceding or following, and variations in articulation, for example - are absent or suppressed in these compositions.
By adopting WebCDR Private Label, partitioners and hardware vendors can offer a turn-key switching solution, thereby avoiding protracted sales cycles that invariably result when clients must procure their own billing system.
Currently available multilevel hypergraph partitioners, such as PaToH [24], Mondriaan [25], and hMETIS [17], use a few heuristics in the coarsening and refinement steps, which require more than linear time, in order to improve the quality of the partitions.
The preceding matrix partitioning can be done by using any of the currently available matrix partitioners, either based on hypergraph partitioning or graph partitioning.