If I have inherited some land and the deed is in both mine and my brother’s names, what must I do to sell my half?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I have inherited some land and the deed is in both mine and my brother’s names, what must I do to sell my half?
Asked on April 11, 2012 under Real Estate Law, Georgia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Good question. You can sell your half to anyone that you want but you need to remember a fractionalized interest in real property is worth less than its percenate with respect to the fair market value of the property if the entirety is not being sold.
I would first offer your share in the property to your brother to buy. If he is not interested, then you can list your fractionalized interest with a real estate agent or retain a real estate attorney to assist in a sale with a third party. The best way to sell it is to agree on a written price with your brother where he either pays you off all at once or he signs a promissory note secured by a mortgage or trust deed and pays you off over time.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.