Real Estate Litigation
Real estate litigation involves disputes between parties regarding the ownership and disposition of real property. In many situations, these disputes involve properties which are owned jointly by several parties or situations where parties have inherited property from a single owner. Our first action when we are retained to pursue such an action is to meet with the parties to see if an amicable resolution can be worked out without the need for extensive litigation. Such a situation can be resolved in several ways. For example, the entire property can be sold to a third party, and the net proceeds from the sale can be divided among the owners in the same percentage as their ownership shares. Our firm has also can refer the property owners to a real estate broker with experience in selling properties in the area in question. We work closely with the broker to ensure that the parties receive the maximum possible profit in selling the property at issue. In addition, our real estate closing department will work with the parties to close the transaction and to ensure that the closing complies with all necessary legal requirements.
Another possible option in settling such a dispute is for one of the co-owners to purchase the interest of the other co-owner. Our firm will negotiate a fair price for such a buyout transaction. In addition, we will prepare all necessary legal documents, including a deed and transfer tax documents, to transfer legal ownership of the property.
If an ownership dispute cannot be settled by negotiation among the parties, a partition action can be brought to settle the issue among the parties. Such an action should be brought in the Supreme Court of New York State, in the County where the property in dispute is located. For example, if the disputed property were located in Westchester County, the action would be brought in New York Supreme Court for the County of Westchester. This Court is located a few blocks away from our office in downtown White Plains.
When such a partition action is brought, a Notice of Pendency must also be filed with the Office of the County Clerk in the county in which the property is located. Our offices are also located near the offices of the Westchester County Clerk. A Notice of Pendency gives notice to all third parties that the ownership of the property in question is in dispute. This notice prevents one the parties from attempting to sell the property to anyone without knowledge of the litigation.
Weiss & Weiss has litigated many of these actions, whether they involve title to residential property such as single or multiple family properties, or commercial properties with multiple owners. We also have experience litigating commercial matters which involve the sale of businesses and the property where the businesses are located. We have been able to resolve these matters either through litigation or negotiated settlements to the satisfaction of our clients. If you have such a situation, we look forward to assisting you.