How to get a jointly owned home sold over the objection of a co-owner?
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How to get a jointly owned home sold over the objection of a co-owner?
My wife’s dad passed away over 2 1/2 years ago and left the house in my wife’s and her brother’s names. Her brother wants the house for his son and says he will buy her out but will not put it on the open market. He has yet to pay her any money although he wants her to sign over her share via a quickclaim deed. Also, his son has lived in the house rent free since her father passed away. Can she get get rent from her brother’s son for back rent? How can we get him to either pay her or put it on the open market?
Asked on December 23, 2011 under Real Estate Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
A co-owner of property is allowed to remain in a jointly owned home but that does not hold true to family members. Your nephew should be obligated to pay one half of the monthly rent for the unit you have written about.
The best way to try and resolve the situation between your wife and her brother is to retain a real estate attorney to represent her in the sale of ther interest in the home assuming she wants to do so. She should sign no quitclaim deed until she consults with legal counsel.
The property needs to be appraised. Once appraised, an offer needs to be made and if accepted, a formal escrow established for the transfer of legal title by your wife where she gets paid for her interest in the property.
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