Having a trusted, experienced real estate lawyer is the best way to safeguard your own interests in an investment. Our lawyers quickly respond to your matter and help you understand your entitlements.
With the Vancouver property market at all-time highs, it is common for people to co-own property. We assist with the process of dividing up property, forcing a sale, or defending against a forced sale of property. We represent clients who are joint tenants or tenants in common, and help you navigate the Partition of Property Act and achieve outcomes that reflect your wishes.
When a property is held by multiple owners, it can be a difficult process to divide the property or proceeds from a sale when one or more owners decides they want to sell. Having a trusted, experienced real estate lawyer is the best way to safeguard your own interests in an investment.
If a partition is initiated on a property, the court must consider and decide many factors, including:
- Whether a physical division of property is a practical solution. For example, it is not usually viable to divide a single residence. However, undeveloped land or multiple units can be divided.
- Whether to order a forced sale of the property.
- Whether to order a buy-out of the property.
- Ownership factors – It is generally presumed that, for example, if two parties each had a 50% share of a property, that is how it should be divided. However, the court must consider factors such as whether one owner contributed more during ownership of the property e.g. renovations, physical labour etc.
Our goal is to get the highest possible return based on our client’s circumstances.
Generally, it is best for all involved if an agreement to sell the property and divide the proceeds can be reached outside judicial proceedings.
If a partition is the only possible solution, we’ll represent you to drive a successful outcome.
Our lawyers quickly respond to your matter and help you understand your entitlements. Protect your interests by engaging our experienced real estate lawyers.