Partition Lawsuit Against Partner living in Japan
Five of six partners wish to sell income property. The sixth now resides in Tokyo and is Japanese citizen. What recourse is there?
Re: Partition Lawsuit Against Partner living in Japan
If the six owners are truly partners, and the income property is held by the partnership as partnership property, there may be better alternatives than a partition lawsuit. The partnership agreement may, for example, give authority to dispose of partnership property to a single partner, or a majority of partners. Or, the partnership can be dissolved and wound up under partnership law, perhaps without the necessity of going to court at all.
The term 'partner' is often used loosely to refer to people working together in other business arrangements that aren't partnerships, e.g. small corporations or here, perhaps you own the property as tenants in common. If so, partition is probably your only option.
So, step one is to get clear on the method of holding title to the property and then the terms of the contract, if any, between the six of you. Note that a partnership does not require an express agreement in order to exist. Look at your deed to see how title is held.
Re: Partition Lawsuit Against Partner living in Japan
If the six owners are truly partners, and the income property is held by the partnership as partnership property, there may be better alternatives than a partition lawsuit. The partnership agreement may, for example, give authority to dispose of partnership property to a single partner, or a majority of partners. Or, the partnership can be dissolved and wound up under partnership law, perhaps without the necessity of going to court at all.
The term 'partner' is often used loosely to refer to people working together in other business arrangements that aren't partnerships, e.g. small corporations or here, perhaps you own the property as tenants in common. If so, partition is probably your only option.
So, step one is to get clear on the method of holding title to the property and then the terms of the contract, if any, between the six of you. Note that a partnership does not require an express agreement in order to exist. Look at your deed to see how title is held.
