Detailed answer: how monetary compensation (buyout or partition-by-sale) works under Ohio law

If two or more people own real property together in Ohio and one owner wants cash instead of a physical portion of the land or house, there are two common routes: (1) negotiate a buyout with the other owner(s) or (2) file a partition action in court and ask the court to order a sale (partition by sale) with proceeds divided among owners. Ohio’s partition statutes govern the court process; for an overview see Ohio Revised Code, Chapter 5307: https://codes.ohio.gov/ohio-revised-code/chapter/5307.

1) Voluntary buyout (private agreement)

Most co-owners solve this by agreement. One owner offers to pay the other(s) an agreed sum for their ownership interest. Key steps and considerations:

• Get a current market appraisal or broker’s price opinion to support the buyout number.
• Account for mortgages, liens, unpaid taxes, and costs of sale—these reduce net proceeds or increase the buyout price if the buyer assumes debt.
• Document adjustments for improvements, repairs, or unequal contributions (for example, if one owner paid more mortgage or made improvements, that may justify a credit).
• Use a written purchase agreement and a closing handled by a title company or real estate attorney to transfer the deed and handle payoffs.

2) Court-ordered partition and sale

If you can’t agree, any co-owner can file a partition action in the county where the property is located. Under Ohio law the court can either divide the property physically (partition in kind) or order it sold and distribute the proceeds (partition by sale). Courts generally prefer division in kind when it can be done without prejudice, but they will order sale when division is impractical or unfair. See Ohio Revised Code, Chapter 5307: https://codes.ohio.gov/ohio-revised-code/chapter/5307.

What to expect in a partition action:

• The plaintiff (the co-owner who files) asks the court to either divide the property or to sell it. The defendant co-owners will be served and can respond.
• The court may appoint commissioners, referees, or other officials to divide the land, value parcels, or supervise a sale.
• If the court orders sale, the property is typically appraised, marketed, and sold—often at public auction or through a broker-supervised private sale. Sale costs and any outstanding liens are paid first; net proceeds are distributed according to each owner’s legal interest.
• The court can account for unequal contributions, such as payments of mortgage, taxes, or improvements, by adjusting distributions or ordering reimbursements.

Which option gets you cash rather than property?

– A voluntary buyout immediately converts your ownership interest to cash if the co-owner(s) agree and close the deal.
– A partition-by-sale (court-ordered or agreed) also converts the interest to cash but can take longer and incur court and sale costs. The court typically orders sale only when physical division would be impractical or unfair.

Practical consequences and timing

Negotiated buyouts are usually fastest and cheapest. Partition actions can take several months to over a year depending on disputes, appraisals, marketing time, and court schedules. Court costs, appraiser fees, commission to sale agents, and attorney fees will reduce net proceeds.

Examples of adjustments and accounting the court may order

• Credit to an owner who paid more than their share of mortgage, taxes, or utilities.
• Reimbursement for substantial improvements if they increased property value and were not offset by agreed rent or compensation.
• Payment of liens and mortgages from sale proceeds before distribution.

When to consult an attorney

Talk with an Ohio real estate or civil litigation lawyer when you’re unsure how ownership shares, debts, improvements, or local practice will affect a buyout or partition result. An attorney can explain likely costs, timing, and the strength of a partition petition in your county.

Statute reference: Ohio Revised Code, Chapter 5307 (partition actions): https://codes.ohio.gov/ohio-revised-code/chapter/5307.

Helpful Hints — how to prepare and increase your chance of a clean cash outcome

• Start by asking the other owner(s) if they’ll buy you out; voluntary deals save time and money.
• Get a professional appraisal early so all parties negotiate from a neutral market value.
• Gather documentation: deed, mortgage statements, tax bills, receipts for repairs or improvements, rent records (if rented), and any written agreements between owners.
• Consider mediation before filing suit — many courts require or encourage it and it can produce a faster cash resolution.
• If you file a partition action, be prepared for appraisal fees, advertising and sale costs, and possible legal fees that will reduce net proceeds.
• Ask for an accounting in the buyout negotiation—clarify who is responsible for debt, pro rata taxes, utilities, and closing costs.
• Keep communications with co-owners in writing and saved — emails and text messages can help prove offers, agreements, or unequal expenses.
• Talk to an Ohio attorney about whether an agreed buyout, partition in kind with a cash adjustment, or partition-by-sale best matches your goals.