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A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. [1]
Partition by sale is a court remedy used when a parcel of land cannot be physically divided, and the proceeds for the sale are distributed proportionally among the cotenants. [7] Cotenants can request another remedy, partition in kind, which would split the property into parcels proportionate to the shares each cotenant has. [ 3 ]
Under the common law such restraints are void as against the public policy of allowing landowners to freely dispose of their property. Perhaps the ultimate restraint on alienation was the fee tail , a form of ownership which required that property be passed down in the same family from generation to generation, which has also been widely abolished.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Tenancy in common (TIC) is a form of concurrent estate in which each owner, referred to as a tenant in common, is regarded by the law as owning separate and distinct shares of the same property. By default, all co-owners own equal shares, but their interests may differ in size.
The Hal Levitt–designed Skouras Residence, built in the 1950s, was added to Ellen and Portia’s ever-expanding real estate portfolio in 2012, to the tune of $17.4 million.
The Bessie Ellen at Brest, France. A West Country ketch or a Tamar ketch is a two-masted sailing ketch, designed for carrying cargo from the South West England, predominantly from the ports of the River Tamar, to ports on the Celtic Sea, such as Cork. [1] [2] The West Country ketch is a specialist type of ketch designed for the waters of the ...
Ellen DeGeneres and Portia de Rossi's reported move to England's Cotswolds could shift their real estate ventures, potentially ending a highly successful run of California property deals that ...