Partition auction – If several people own a property and one owner refuses to sell the property, he or she can pursue a partition auction. This means that the local court orders the forced sale of the property upon request. Similarly, in the case of joint heirs, each co-heir has the right to apply for a partition auction, which applies not only to the share of that heir, but to the entire property.
Partition Auction at a Glance: The compulsory auction of a property made on application
- Only the case when several persons are owners of a property
- If an owner refuses to sell the property, the latter may pursue the partition auction
- That is, the district court will order the compulsory sale filed on application
- In the case of communities of heirs, each co-heir has the right to a partition auction
Back to the wiki: Real Estate