Can the main owner sell a property if there are multiple owners?
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Can the main owner sell a property if there are multiple owners?
There is 1 owner who owns 50% and who has paid property taxes and upkeep for the last 15 years. The next owner owns 16% and the remaining 10 owners own 4% or less. It is not possible to locate all of these owners all inheritance. Can the main owner sell property without all signatures?
Asked on February 1, 2019 under Real Estate Law, Nevada
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, he can't: the agreement or consent of all owners of real estate is required to sell it, except as per below.
A court can order the sale without the consent of certain owners; if it does, the court will almost certainly require that the appropriarte portion of the proceeds be escrowed for their benefit and that certain further minimum efforts be made to locate them.
A legal action "for partition" would need to be brought to get the court order. Certain efforts to locate and serve the minority owners would need to be made, documented, and attested to. It is strongly advised to retain an attorney to help.
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