What can co-owner’s do if one of them will not agree to sell the property?
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What can co-owner’s do if one of them will not agree to sell the property?
I have a home left to us by quick claim deed from our parents. I have been renting it the past 7 years. Now, we would like to sell but one sister is being very unreasonable. Would like to know our rights. If I was the executor of the estate, do I have any authority now?
Asked on June 3, 2015 under Real Estate Law, Michigan
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
When co-owners of real estate cannot agree on whether or not to sell, there is a legal remedy called "partition". Basically, a court case can be brought by those who want to sell. A judge will then order a sale of the property for fair market value and the owner who wants to keep the property will be given the right to purchase it before it is offered to a third party.
That having been said, the above is a simplified explanation. A partition can be a time consuming and expensive process; it is always advisable to try and work things out without taking formal legal action. At this point, you should consult directly with a real estate attorney in your area.
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