You own a home with a third party and you can’t agree how to manage the property. How do you get out of this arrangement?

Connecticut provides a remedy for co-owners of real estate who cannot agree on how to manage or co-own a property, called a partition action.  A partition action is a lawsuit brought by an owner of property against a co-owner.   Depending on the facts of a case, the Court can physically divide the property between owners, which usually is not optimal for either party. The Court can also order the property to be sold and the net proceeds divided among the co-owners of the property. Where things get tricky is where there is a disagreement as to the contribution of each party towards the value of the real estate and consequently the proper allocation of the proceeds of any sale.

If you co-own property and that arrangement is not working out, call McCarthy and Taylor and we can help you navigate the complexities of a partition action in Connecticut.