The Uniform Partition of Heirs Act is a new law that changes the procedure for partitions. A partition action is a court-ordered process where a property owner forces a sale of jointly owned real estate. Essentially, a partition action exists to allow people who own real estate together to take their share of the equity and go their separate ways.
With the price of California’s real estate ever-increasing, the Legislature recognized the importance of keeping property within the family and decided to adopt and enact the Uniform Partition of Heirs Act.
The importance of inherited property cannot be understated. It is the key to advancing inter-generational wealth, allowing families to build off a stable foundation, free from the expensive and stressful process of buying property in California.