Petition to Partition

This show originally aired November 14, 2009.

Listen to the Show Here!

The topics for this show include:    Petition to Partition (What to do when you purchase a property with a friend or family member and you want to separate from the property later) with Richardson, Richardson, Boudreaux; Other Structures That are not Attached to your House with  Mike Tedford of Tedford Insurance; Luxury Property Information  with Sherri Sanders of the Luxury Property Group.

What do I do if I purchased a property with a friend or family member and I want to sell my half of the property later?
  At this point you will need to talk with an attorney and discuss a Petition to Partition.  Each party will lay out their interest for the property and the judge will determine what will happen with the property, including the interest each party will happen with the party.  The judge can also appoint people to determine the appropriate price for the property.  Having to go to this point can often cost quite a bit of money in legal fees, etc. Many time an estate plan for the property can help if you want to leave the property to more than one person.  Details can be specified including easement issues so that many things can be avoided later.

If you have questions regarding a Petition to Partition or other legal issues, contact David Keesling with Richardson, Richardson, Boudreaux at 492-7674 or www.rrblawok.com.

What is happening in the Tulsa luxury market?   Numbers are up from last quarter and sales are increasing.  The luxury market is generally starting at $500,000. There are 108 properties on the market over $1 million.  If you are selling a property in the luxury market, make  sure your house is ready to sell.  Select an agent that knows house to sell a luxury property and knows the market in your area.  The condition and price of the property make a huge difference.  All the marketing in the world will not overcome a home in poor condition or high price.

To buy or sell a luxury property in the Tulsa, OK. area contact The Tulsa Luxury Property Group at www.tulsaluxurypropertygroup.com.

Are structures detached from your home still covered on your homeowner’s insurance?  A homeownwer’s policy is called a package because it covers more than  just your home.  On average about 10% of your property value will go towards other structures.  That could be a big toy in the back yard, pool, storage shed.  Anything that is not attached to the house or its foundation.

If you have questions about proper coverage for detached structures on your property, contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.