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 ?
A sudden scraping of feet, mingled with the sound of suppressed laughter, was heard from behind the partition.
'In the name of the Father and of the Son and of the Holy Ghost!'--she heard his voice from behind the partition. 'Go!'
In its early days, Columbia purchased all of its empty glass bottles in kits, with bottles supplied prepacked in corrugated cases with the partitions already inserted.
Tenders are invited for New construction of the 1-field sports hall jenaplan-schule, jena, lot 24 - partitions
A word about the unique characteristics of real estate and partitions in kind demonstrates why this process is not used as often as many think.
In her splendid book, Partition's Post-Amnesias: 1947, 1971 and Modern South Asia, Ananya Jahanara Kabir investigates the effects of the two Partitions on the three generations that followed in Bengal.
Section 3 defines semantic mapping from key concepts of configuration (such as modules, partitions, memory, process, and communications) to components of MARTE element and proposes a method for model transformation between XML-formatted configuration information and MARTE models.
The company has now given us an answer as to why this is so, and the problem has to do with partitions. The company didn't want to risk bricking existing devices.
It divides the skew partitions and recombines them to attain a balance.
To facilitate the search of control-construct partitions, we have used the parameter of link.
In order to allow the implementation of software packages of different DAL and to avoid negative side effects during incremental system integration, software services in IOMs and CPMs are segregated in partitions. The operating system assures each partition its required minimum system resources including memory, computing time and network access.
Random Matrices and Random Partitions: Normal Convergence