There are times when co-owners of Hawaii real property are engaged in a dispute and no longer wish to continue co-ownership of such property, or one party is no longer making payments on the mortgage and the paying party wants to remove the non-paying party from title. The question that usually follows is what are the co-owners’ options if they wish to sever such relationship.
In the event that there is no prior written agreement among the co-owners setting forth each owner’s obligations and the procedures for resolving disputes, the co-owners are basically left with two options:
(1) work out some agreement to resolve the dispute or
(2) terminate the co-owner relationship through a court supervised partition action pursuant to Hawaii Revised Statutes Chapter 668 (Hawaii’s Partition of Real Estate Statute).
The co-owners should first try to resolve their differences and come to some compromise. By reaching such a compromise, … Read More