What is a Partition?

When co-owners of real estate cannot agree on when or how to sell their property, each of the co-owners are entitled to petition for partition. A petition to partition is a lawsuit which asks a court to order the sale or division of the property. “Any person, except a tenant by the entirety, owning a present undivided legal estate in land […], shall be entitled to have partition in the manner hereinafter provided.” M.G.L. c. 241 § 1. A beneficiary of a trust, a shareholder of a corporation, or member of an limited liability company are not entitled to partition. See e.g. Minkin v. Commissioner of Revenue, 425 Mass. 174, 180 (1997). The probate courts and the land court has concurrent jurisdiction of all petitions for partition. M.G.L. c. 241 § 2.

The petitioner may request the sale or division of the subject real estate. Sale may only be ordered if the court finds that the land cannot be divided advantageously. M.G.L. c. 241 § 31. If the court orders sale, the land will be sold at public auction unless the court finds that the interests of all parties will be served by a private sale. Id.

After the petition is filed and the court has determined that the petitioner is entitled to partition, the court will enter an interlocutory decree that partition be made. Id. at § 10. After the decree issues, a warrant is issued to a disinterested commissioner. Id. at § 12. Once the commissioner’s return is confirmed, a final decree enters. The final decree is recorded at the registry of deeds and the decree has the effect of transferring the property. In a partition by sale, a deed is delivered by the commissioner which transfers the property.

The court will address other matters related to the partition. For instance, accounting issues including the expenses of the partition proceedings, including: counsel’s fees, fees for the commissioners, title exams, and preparation of plan. Fees and expenses will be shared by all co-owners in proportion of their interests.

While petitions for partition are common, it is less common that the entire process is completed. The added expenses which include attorney’s fees, commissioner’s fees, and the potential for below market sale prices convince most parties to agree to a sale prior to a final decree. If you are the co-owner of real estate and want to explore your right to a partition, contact Benjamin Cote to set an appointment.

Tip-Top Tips for Selling Your Home

 

Looking to sell your house? Look no further!

1. Find a professional real estate agent
2. Track down all of your old documents
3. Make sure your permits are complete and closed
4. Plan out your move well in advance
5. Purge

If you have any questions about selling, contact us by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

The Downside to Refinancing…

What’s the downside to refinancing your home? We’re looking at historically low interest rates right now. If you’re looking to move very soon, maybe it wouldn’t be worth it. Other than that, refinancing can lower your monthly obligation so that you can use that money to pay off debt, do home improvements or even make plans for the future.
In preparation, make sure you find a trusted loan professional. Be organized by having all your documents ready. With these things in order, it should go smoothly.
Whether your loan professional usually works with Stiles Law or not, ask to work with us on your refinance! If you mention this video, we will waive the title exam fee ($150-$250).
The time is now! There isn’t much of a downside to taking this opportunity to save some cash.
If you have any questions about refinancing, contact us by calling (781) 319-1900.
Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Will a Refinance Cost You?

 

Why might you be told to bring money to the closing of a rate and term refinance of your home?

Often your loan professional will try to net your refinance to zero, or make it so there is no disruption in your mortgage. The time of the month your closing happens will actually determine the amount of money you need to pay at the closing. When you pay mortgages, you pay them in arrears, meaning for example if your payment is on July 1st you would pay June’s interest then. Refinance doesn’t allow you to skip the old payment, as you still have interest. You will more or less combine the old and the new.

Another reason for payment at the closing could be escrow accounts. Escrow funds will not transfer from the old lender to the new lender. You must start new accounts and fund them while you wait for old loans to settle out. The leftover money will be reimbursed eventually.

If you have any questions about refinancing, contact us by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Stiles Law on WATD – How Has COVID-19 Changed Real Estate Practices?

 

Mark Stiles spoke with the folks at WATD to discuss how COVID-19 has been changing and transforming the real estate industry locally. He touches on Stiles Law’s use of the drive-through option to handle refinance closings, remote ink sign notarizations, how his team has adapted in order to succeed, and the decline of the open house in our current climate and perhaps for good. Listen for more.

If you have any questions contact us by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Why Wear a Mask?

 

 

Monday is an important day in MA because it’s when we start to roll out. Over at Stiles Law we’ve finalized our protocols on how we’re going to operate while still maintaining that the general public can’t enter our building. The outdoor office desk remains open.

If you need help with protocols for your business and how to roll your team back in, call us at 781-391-1900 to talk to Brian from our business team.

Our friends Dan and Jess at Levitate have masks if you’re looking for some.

Why wear a mask? Dr Joe is a guest today to talk about being an asymptomatic carrier and using masks to protect others.

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