Legal Question in Real Estate Law in Minnesota

Re: Dividing co-owned property

The short answer to your question is "yes". In Minnesota, a co-owner of real estate may file a partition action. The purpose of a partition action is to either (1) value the property and require the other co-owner or co-owners to pay the reasonable value of the co-owner that wants out of the property, or (2) to order that the property be sold and divide the net sale proceeds among the co-owners according to their percentage interest in the property.

There are alternatives to partition that should be considered by all co-owners. Let me know if you need specific advice regarding your situation.

Re: Dividing co-owned property

When parties co-own real estate and do not have important agreements in place to determine the respective rights of each party to have their interest purchased or to sell the real estate, the option in court is called a "Partition" action.

In that partition proceeding, the court would determine each parties interest in the property based on their respective contributions to the property. It can then order the property, divided, sold or allow a buy out to occur.

Often, a reasonable resolution can be worked out through negotiation. We can certainly assist you in that regard. We have decades of experience and have been recognized as leaders in Minnesota real estate law.

For a consultation, call me at 612. 240.8005.