Legal Question in Business Law in Arkansas

Re: Joint Ownership

Thank you for your posting and your inquiry.

As mentioned, what your remedies are here depend on where the property is located. You can sue for your share of the value of the rent, each year, or you can sue to partition the property and buy out your share, known as a partition action.

I hope that this information helps you, but if you have further questions, want more information, or feel that you need legal representation, please feel free to email me directly at [email protected]. It's my pleasure to assist in any way that I can.

Re: Joint Ownership

Action for severence and accounting, call me directly at (619) 222-3504.

Re: Joint Ownership

If a settlement for division or sale cannot be reached, a lawsuit for partition and sale of the property, plus an accounting for your lost rents should be filed. Please contact our office at714 363 0220 for review of your documentaion, and an appointment for consultation.

Re: Joint Ownership

First, if this property is in California, I can help. Second, you indicate the property is owned jointly. Do not know if the property is in joint tenancy as you indicat or you hold the property in common, etc., Please call. Don Holben 800-685-6950

Re: Joint Ownership

The question, as posted, indicates that Arkansas law applies, and that would certainly be the case if the property is in Arkansas.

The law in California would be as follows. Rents and other income derived primarily from joint tenancy or tenancy in common property belongs to the co-owners in proportion to their interests in the property. However, if and to the extent the personal labor or separate capital of one co-owner is responsible for the income, that person may keep a disproportionate share of the income.

For example, if it were a straight rental of the house, each of five co-owners would be entitled to 1/5 of the net rent. On the other hand, if one brother were farming the land and selling the crop, he would probably be awarded most, perhaps all, of the income.

As far as I know, all states allow a lawsuit for partition of real property when co-owners cannot agree on the use, occupancy or sale of the property.