18:48
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Simple English definitions for legal terms
partition in kind
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A quick definition of partition in kind:
Partition in kind is a way of dividing property that is jointly owned by two or more people. It means that the property is physically divided into separate parts, and each person gets their own part. This is different from other types of partition, where the property is sold and the money is divided among the owners. Partition in kind is often used for real estate, but it can also be used for other types of property, like minerals. It is a definitive partition, which means it cannot be changed once it is done.
A more thorough explanation:
Definition: Partition in kind refers to the division of real property held jointly or in common by two or more persons into individually owned interests.
For example, if two siblings inherit a house from their parents, they may choose to partition the property in kind. This means that the property will be physically divided into two parts, with each sibling receiving ownership of one part. This type of partition is also known as definitive partition because it is irrevocable.
In Louisiana, partition of succession refers to the division of an estate among an intestate's heirs. This is another example of partition in kind.
Partition in kind is different from partition by sale, which involves selling the property and dividing the proceeds among the co-owners. Partition in kind is often preferred when the property has sentimental value or when the co-owners want to retain ownership of a specific portion of the property.