partition agreement

A partition agreement is a legal document created when multiple parties own a piece of property together, such as land or a building. It outlines how the property will be divided among the owners. This agreement helps prevent disputes by clearly defining each owner's share and responsibilities. If the owners can't agree on the division, they may go to court where a judge will decide how to split the property. Essentially, a partition agreement provides a structured way to separate shared ownership while ensuring that everyone knows their rights and obligations.