People often co-own property. In Louisiana, a person cannot be forced to co-own property with another. When someone no longer wants to co-own property, the options are: for one co-owner to buy the other co-owner out of his/her interest in the property or to partition the property.
When a property is “partitioned”, the property may be (1) sold in a private sale, (2) sold at a Sheriff’s Sale, or (3) divided equally among the parties if possible. Depending on the property, perhaps it can be literally divided, or perhaps the only solution is to sell the property and split the proceeds. For example, a tract of land can likely be literally divided but a house cannot be divided. Whether the property can be divided or not, experienced legal assistance is a must.
At Hoyt and Stanford, we can help you when you no longer want to co-own property.