Navigating the intricate world of real estate disputes can be challenging, especially when multiple parties are involved in co-owning a property. In this insightful interview with Jennifer Felton, Esq., a prominent expert in real estate law, we explore the complexities of partition actions, shedding light on legal remedies and recent legislative changes aimed at promoting fairness and cooperation among property owners.
I. What is a Partition Action?
- A partition action is a legal remedy used when multiple property owners cannot agree on what to do with a shared property.
- Common in inheritance and probate situations where family members inherit property and have conflicting plans.
II. Traditional Remedies and Challenges:
- Partition in Kind: Splitting the property among owners, although often impractical.
- Property Sale: Historically, properties were auctioned off, often leading to undervaluation, disadvantaging certain families, especially low-income minorities.
III. Legislative Changes and Fair Solutions:
- Introduction of the Uniform Partition of Heirs Act: Gives heirs the first right of refusal, promoting family property retention and generational wealth.
- Listing with Realtors: If the family can’t agree, the property must be listed with a realtor and sold at fair market value, with court affirmation.
IV. Jennifer Felton’s Journey:
- Born in Covina, California, Jennifer’s path to becoming an attorney was unconventional.
- Despite challenges, including early parenthood, she pursued her passion for real estate, eventually transitioning from escrow to law school.
V. Jennifer’s Real Estate Focus:
- Specializes in representing businesses and professionals in the real estate industry.
- Serves as outside general counsel for over 400 escrow companies, a dozen title companies, and numerous brokerages, developers, and investors.
Jennifer Felton’s journey from a young parent to a leading real estate attorney exemplifies resilience and determination. Her expertise in partition actions illuminates the legal landscape, emphasizing fairness, family cooperation, and generational wealth preservation. For anyone entangled in real estate disputes, Jennifer’s insight offers a guiding light, showcasing the power of strategic legal solutions.
“Probate is statutory, they have very strict rules. Partition is equity, so the judge can do what they want to make it. That also means if we’re trying to solve a problem and get cooperation, we have more leverage to do that.”
📇Connecting with Jennifer:
DISCLAIMER: The Probate Realtor® Matias Baker Masucci is a licensed real estate broker in California DRE # 02054763. Any legal information provided is for informational purposes only and NOT for the purpose of providing legal advice. Contact an attorney to obtain advice with respect to any particular legal issue or problem. We make no guarantees as to the accuracy of any information.