Posted in Farm Management, Land Ownership, Partnerships, co-ownership, ending co-ownership, purchasing real estate, real estate, selling land, tagged ending co-ownership, partitian, undivided interest on May 4, 2008 | 1 Comment »
The situation
Ten parcels of ranch property owned by one partnership with about 25 members, one LLC with three members, a family trust with 20 heirs and four individuals including one who was deceased and still on title.
That was the status of our ranch in year 2003. We owned an undivided interest equivalent to 949 [...]
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When initiating our partition action, we knew that one of the owners had died unexpectedly, but we didn’t know the rest of the story - that he died intestate (without a will), that he was married and that his estate had not been probated even though he’d be deceased for over ten years.
We could not probate [...]
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Sometimes you just can’t continue to co-own property with certain individuals. It’s similar to getting a divorce, but you may hardly know the person you’re “divorcing.”
I recently participated in a partition action on a ranch which I own approximately a twenty percent interest. As the petitioners my partners and I named the other co-owners in [...]
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