[WSBAPT] Partition Question

[Richard Wills]

Mike --- I've successfully done partitions in which I've moved the Court
to appoint a Trustee to list the home with a broker & advertise the sale
on the MLS --- & obtained what appeared to me to be FMV for its sale.



On 4/8/2014 1:41 PM, Mike Winslow wrote:


In addition to Eric’s comments, keep in mind that Partition is rarely a
good solution to resolving problems between Tenants in Common or other
joint ownerships. The sale is essentially a fire sale, by auction, not an
arm’s length negotiated conventional sale. So there is no listing with a
Realtor to obtain Fair Market Value. The only way to protect oneself in a
partition is to have sufficient funds to outbid the other owner at the
auction (assuming partition by sale, not physical partition; eg.
Subdivision). Modification of the Decree and settlement agreement would by
preferable in the majority of situations (not having reviewed the
Settlement Agreement for specifics).

 

Michael A. Winslow

1204 Cleveland Ave.

Mount Vernon, WA 98273

Ph. 360-336-3321

Em. Mike at winslegal.com

 

This message is from an attorney, so it’s confidential. If you are not
the intended recipient, it’s too late to stop reading this message, but
you may not use it for any improper purpose. Huge Disclaimer available
upon request.

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of
amanda_wilson at olypenlawoffices.com
Sent: Tuesday, April 08, 2014 11:55 AM
To: WSBA RPPT Probate & Trust Discussion Forum
Subject: [WSBAPT] Partition Question

 

This question deals with a Property issue and Family Law.... If anyone can
help it would be appreciated.

 

Marriage ends in a dissolution. Â Dissolution Decree is entered in 2007. Â
A Settlement of Property agreement is part of the Decree. Â The purpose of
the agreement is to expedite a timely sale of a family home. Â However,
the wife who is responsible for the sale has not sold the property. Â The
agreement does not give a time frame for when the property is to be sold,
other than to expedite a timely sale. Â There are two rentals on the
property. Â Income from one of the rentals is in question. Â In the
agreement Wife was to live on the property and live in one of the houses
to prepare property for sale and has since moved and is renting out that
house. Â My client now wants property sold ASAP, to be in charge of
selling house and wants income from rental. Â Is a partition for sale
complaint the proper cause of action?

 

 

 

Amanda M. Wilson, esq.

Olympic Peninsula Law Offices, LLC

219 W Patison St.

Port Hadlock, WA 98339

 

(360)437-4172 office

(206)331-7851 cell phone

"I've learned that people will forget what you said, people will forget
what you did, but people will never forget how you made them feel." ~ Maya
Angelou

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Information provided on this list should not be considered legal advice.
As with all lists - let the reader beware! No warranties or
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author and do not necessarily have the endorsement of the Washington State
Bar Association nor its officers or agents. 

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