Waiver of Right to Partition Clause Samples
A Waiver of Right to Partition clause prevents co-owners of a property from seeking a legal division or forced sale of the property through partition actions. In practice, this means that if multiple parties jointly own real estate, none of them can unilaterally demand that the property be split up or sold to divide the proceeds, even if disagreements arise. This clause is commonly used in joint ownership agreements to maintain the integrity of the property and ensure that all owners remain bound to the original terms of ownership. Its core function is to promote stability and prevent disruption by eliminating the risk that one party could force a sale or division against the wishes of the others.
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Waiver of Right to Partition. Each of the Partners irrevocably waives any right that it may have to maintain any action for partition with respect to any of the Partnership’s assets.
Waiver of Right to Partition. The Partners, by execution of this Agreement, waive their respective rights to partition of the Partnership Property.
Waiver of Right to Partition. As a material inducement to each Member to execute this Agreement, each Member covenants and represents to each other Member that, during the existence of the Company, no Member, nor his heirs, representatives, successors, transferees or assigns, shall attempt to make any partition of any Company assets, whether now owned or hereafter acquired, and each Member waives all rights of partition provided by statute or principles of law or equity, including partition in kind or partition by sale.
Waiver of Right to Partition. The Participants hereby waive and release all rights of partition, or of sale in lieu thereof, or other division of Assets, including any such rights provided by statute.
Waiver of Right to Partition. Each of the parties hereto irrevocably waives during the term of the Company any right that it may have to maintain any action for partition with respect to Company property. 13.11
Waiver of Right to Partition. Each Party waives the right to bring an action for partition of its interest in the Contract Area, wells, Platform, Development Facilities, and other equipment ▇▇▇▇ under this Agreement, and covenants that during the existence of this Agreement it shall not resort at any time to an action at law or in equity to partition any or all of the Contract Areas and lands or personal property subject to this Agreement.
Waiver of Right to Partition. Each of the Members irrevocably waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property and assets of the Company, and hereby agrees not to file a ▇▇▇▇ for a membership accounting or otherwise proceed adversely in any manner whatsoever against the other Members or the Company, except for bad faith, gross negligence, fraud, intentional misconduct or violation of this Agreement.
Waiver of Right to Partition. Except as provided in Section 12.2(e), each Person who now or hereafter is a party hereto or who has any right herein or hereunder irrevocably waives during the term of the Partnership any right to maintain any action for partition with respect to Partnership property.
Waiver of Right to Partition. 8.1 The Participants accept title to their respective interests in the San ▇▇▇▇ Project, water rights, lands, land rights and improvements thereon as tenants in common, and agree that their interests therein shall be held in such tenancy in common for the duration of the term of this Agreement, including any extensions thereof. While this Agreement, including any extensions thereof, remains in force and effect, each Participant agrees as follows:
8.1.1 That it hereby waives the right to partition the San ▇▇▇▇ Project, water rights, lands, land rights or the improvements built thereon (whether by partitionment in kind or by sale and division of the proceeds thereof), and
8.1.2 That it will not resort to any action at law or in equity to partition (in either such manner) the San ▇▇▇▇ Project, water rights, lands, land rights or the improvements built thereon and waives the benefits of all laws that may now or hereafter authorize such partition.
Waiver of Right to Partition. Each Partner hereto hereby waives his right to partition (or to separately assert any right to partition under the statutes of the State of pertaining to partition) any real property owned by the Partnership.