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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 ?
Built-in safety technology protects against system failures by resuming critical partitioning operations after power failure.
Partitioning is a legal action and is therefore likely to be prohibitively expensive.
One of the reasons that partitioning hasn't been used extensively up to now is that it has been relatively complicated.
Key among these are Paragon's sophisticated partitioning features, which enable users to easily, resize, copy and redistribute free disk space as well as merge two partitions or recover accidentally deleted or lost partitions.
Using the latest version of the Certify product, designers can expect shorter prototype development times and improved prototype performance due in part to enhancements to two of the tool's most powerful and unique partitioning features: Quick Partitioning Technology (QPT) and the Certify Pin Multiplexer (CPM).
Virtualized computing with logical partitioning is proving to be the right solution at the right time.
Dynamic partitioning allows the replacement of failed modules, as well as the replacement of hardware that show signs of impending failure, on mission critical systems while still in operation.
This product release builds on TNT's core identity-based network partitioning and auditing expertise, ensuring that vulnerable systems and unauthorized users and machines cannot access critical portions of the network.
The Symwave/Cypress CY4671 biometric reference design provides the tools necessary for HDD manufacturers to tailor the product to their customers' requirements, including formatting, partitioning and securing/unsecuring the drive.
Reducing the certification cost or allowing additional functionality and complexity in safety-critical systems without dramatically increasing certification burden is now possible, thanks to the partitioning technology offered in SYSGO's PikeOS product.
Optional Library Partitioning - Through a simple upgrade, all the functionality of the 924p Storage Controller can be added, bringing complete library security and enhanced usability.