A Partition Action is a lawsuit where one co-owner of real property requests a court order requiring sale of the real property and a division of land and/or profits between all owners of the property.
There are numerous reasons a co-owner may bring a partition action. Most commonly, a group of co-owners inherit property and disagree on how the property should be used. One may desire to sell the property immediately and the other may want to rent the property to increase ongoing cash flow. Should the parties be unable to agree on a course of action, the court will rule as to how the property should be dealt with.
Prior to making a final decision he court will request numerous pieces of information, including but not limited to: maintenance accounting, fair market value, partner percentage of equity, equity in the property (difference between fair market value and unpaid principal balance and all outstanding liens and judgments).