Co-Ownership Dispute

Co-ownership disputes typically arise from conflicting expectations, financial disagreements, or differing visions for the asset. Some common causes include:

Differences in Usage and Access - Disagreements can occur when co-owners have conflicting views on how the property should be used, including scheduling, maintenance, or rental opportunities.

Financial Contribution Imbalances - When one co-owner feels they have contributed more financially, disputes may arise regarding profit sharing, expenses, or control over decisions.

Sharing Maintenance and Costs - Co-owners are generally responsible for the upkeep and expenses of the property. Disputes can occur if one party fails to meet their financial obligations, leading to conflicts over shared expenses.

Decision-Making Authority - Without clear decision-making rules, co-owners may face conflicts over key decisions, such as renovations, leasing, or selling the property.

Exit Strategy and Selling Interests - Disagreements often arise if one co-owner wishes to sell their share while others want to retain the property, especially if the ownership agreement lacks clear exit strategies.

Co-ownership disputes involve legal challenges, particularly concerning the enforcement of ownership rights, financial obligations, and asset division. Key legal considerations include:

Co-Ownership Agreement - The co-ownership agreement (if one exists) outlines each party's rights, responsibilities, and profit-sharing arrangements. Courts will look to this agreement as a foundation for resolving disputes and defining responsibilities.

Partition and Sale - When co-owners cannot resolve their differences, courts may order a partition or sale of the asset, allowing the property to be divided or sold with proceeds split according to ownership interest.

Equitable Division - Courts may consider each party’s financial and non-financial contributions when determining a fair distribution of proceeds or profits in the event of a sale.

Fiduciary Duty - Co-owners may owe fiduciary duties to each other, requiring them to act in the asset's and co-ownership’s best interests. Breaches, such as self-dealing or concealing important information, can result in legal action.

Buyout Clauses - Many co-ownership agreements include buyout provisions, allowing one co-owner to purchase the other's interest. Courts may enforce these provisions, providing a solution if one party wants to exit the co-ownership arrangement.

At ME Law, we provide experienced support for clients involved in co-ownership disputes, offering solutions that protect each co-owner's interests and support fair asset management. Our services include:

Agreement Review and Enforcement - We review co-ownership agreements to clarify enforceable terms, advising on rights and obligations to support fair asset management and protect client interests.

Partition and Sale Actions - Our team represents clients in partition actions, helping with court-ordered sale or division of assets when disputes cannot be resolved through negotiation.

Negotiating Buyouts and Exit Strategies - We assist in negotiating buyouts or other exit strategies, providing solutions that balance co-owners' interests while minimizing disruption.

Fiduciary Duty Claims - For cases involving breaches of fiduciary duty, we represent clients to seek compensation and accountability when co-owners act in ways that harm the shared ownership.

Alternative Dispute Resolution (ADR) - We guide clients through mediation, arbitration, or other ADR methods, aiming for efficient, cost-effective resolutions outside of court.

Co-ownership disputes can escalate quickly, affecting valuable assets and straining relationships. At ME Law, we offer personalized legal solutions to address and resolve co-ownership conflicts. Contact us today to discuss your situation and protect your interests in complex co-ownership matters.