Disclaimer: This article is for educational purposes and is not legal advice. For advice specific to your situation, consult a qualified attorney.
Detailed Answer
When co-owners cannot agree on the logistics of selling jointly owned property or on sharing related expenses, Illinois law offers several legal pathways.
1. Partition Action
Under Illinois law, any co-owner of real property may file a partition action in the county where the property is located. See 735 ILCS 5/2-1001 et seq.. The court may grant:
- In-kind partition: Division of the property into separate parcels if feasible. (735 ILCS 5/2-1002).
- Partition by sale: Ordering a public auction or sale and dividing proceeds among owners. (735 ILCS 5/2-1101).
The court appoints commissioners to manage the process, set sale terms, and distribute net proceeds based on ownership shares.
2. Accounting for Expenses
If one co-owner advances funds for taxes, repairs, or maintenance, they may petition the court for an equitable accounting. The court can order reimbursement or adjust the final proceeds to reflect those contributions.
3. Mediation and Alternative Dispute Resolution
Before or alongside litigation, co-owners can pursue mediation under the Illinois Uniform Mediation Act (710 ILCS 35/1 et seq.). A neutral mediator helps draft a sale agreement or cost-sharing plan tailored to the parties’ needs.
4. Negotiated Buyout
Co-owners may agree that one buys out the other’s interest. This avoids court costs and preserves privacy. Parties often hire appraisers to set a fair market value before the buyout.
Helpful Hints
- Document all expenses and contributions related to the property.
- Consult a title professional to confirm ownership percentages.
- Consider a written co-ownership agreement for future clarity.
- Gather recent appraisals to support valuation disputes.
- Explore local voluntary mediation programs first—they often cost less than litigation.
- Be aware of court filing fees and potential attorney’s fees in partition actions.