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 ?
Never was there any significant overlap between these two categories: The line that divided the Ottoman provinces of Baghdad and Basra, for instance, was much farther south than today's partitionists have realized; it created regional legacies that sometimes pitted the Shiites of Basra against the Shiites of Baghdad, Najaf, and Karbala (where they always had their greater demographic strength).
what pleased me most was that he seemed to get into the whole swing of a partitionist system.
They are the original partitionists, not those of us fighting for Canada" (The Suburban, September 24, 1997: A-13).
Similarly the fanatics on the Turkish Cypriot side, who rely on the Turkish military and financial supremacy and try to impose a partitionist solution will fail.
Republican cynics and unionists alike might say that if Sinn Fein are administering a partitionist state then they should use its proper name.
Gray's diplomacy was inherently partitionist, not anti-partitionist.
He added: "There will be no return to partitionist rule.
Johnson were all enthusiastic participants at the launching of the partitionist movement at McGill University in early 1996.
Greens leader Giorgos Perdikis said the Greek Cypriots need to convince the international community that they want a solution as soon as possible, adding that it is the Turks that remain intransigent, "sticking to the same extreme confederal positions and partitionist proposals".
The reality is that the Union is as strong as ever and Sinn Fein are working day in and day out within a partitionist political system at Stormont.
The premises of the book are, broadly: 1) the concept of partition is indefensible and has resulted in a range of problems historically, 2) so-called ethnic partition - arrives as an option primarily in the contexts of colonialism's prerogative to divide and rule, 3) literature has been involved instrumentally in helping define partitionist identities and so add a cultural depth to an otherwise flimsy political concept, and, 4) the relationship between newly partitioned states and culture/literature is never straightforward.