Legal Question in Real Estate Law in Illinois

Partition Lawsuit of property held in Partnership

My parents hold title of a commercial property with their sibling & in-law in partnership. Is it possible for them to force sale via a partition lawsuit? If not, how should they proceed to ''cash out'' their interest?


Asked on 9/16/04, 6:17 pm

1 Answer from Attorneys
Terrance Leeders Leeders Law

Re: Partition Lawsuit of property held in Partnership

Yes you have several options. You can disolve the partnership if all parties agree, or you may have to file suit for partition which divides up the assets between all interested parties. Email me to discuss this further.

Terry

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Answered on 9/16/04, 6:28 pm


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