What Is the Legal Process for Partition of Commercial Property?
Let us paint a quick picture. Two business partners buy a retail building years ago. Things are good… until they are not. Maybe profits drop. Maybe one partner wants to sell and the other refuses. Suddenly, nobody agrees on what to do with the property. That is usually when people start searching for a commercial real estate litigation attorney because things are no longer just a business disagreement. It becomes a legal one. Partition of commercial property is basically the legal way of saying, “We cannot own this together anymore. Let us split it fairly.” Sounds simple, right? It rarely is. First… What Does “Partition” Even Mean? Partition is a legal process that allows co-owners of a property to divide or sell it when they cannot agree . It applies to commercial spaces too … offices, warehouses, rental buildings, shopping units. Courts generally recognize two types: Partition in kind … the property is physically divided. Partition by sale … the property is sold and the pr...