What term describes the legal process by which property is sold by the court and the proceeds are divided among owners?

The term that describes the legal process by which property is sold by the court, and the proceeds are divided among owners, is known as a Partition Action. This legal proceeding allows co-owners of a property who cannot agree on its disposition to seek a court's intervention. In a Partition Action, the court may order the property to be sold and the proceeds divided among the owners based on their respective ownership shares.

This process is particularly relevant in situations where co-tenants wish to end joint ownership and have differing opinions on how to handle the property. By utilizing a Partition Action, the court ensures an equitable resolution that respects the ownership interests of all parties involved. This distinguishes the action from other legal terms, such as foreclosure, which specifically pertains to the recovery of secured property due to default on a loan, or a quiet title action, which is aimed at settling disputes over property ownership rather than selling the property itself.