Partition and sale of land, while not exactly a common occurrence, is always available if the co-owners cannot agree on buying out one or more of the co-owners or selling the property and splitting the proceeds. A question of some importance: what are the income tax consequences, particularly for a co-owner who buys the property in the partition and sale proceeding?
"Income Tax Consequences On Partition And Sale Of Land,"
Agricultural Law Digest: Vol. 11
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol11/iss15/1