What are my rights as a co-inheritor of family property?
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What are my rights as a co-inheritor of family property?
My sister and I inherited the family home and 2 rental properties from my mother. The rental properties are occupied. She has been gone 5 years and her house is setting going downhill because it’s empty. My sister refuses to let me rent or sell it because she is
Asked on May 19, 2018 under Real Estate Law, Missouri
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Assumng that the property is now in both of your names, as a joint owner you can file an action in "partition". This is a legal remedy employed when co-owners of property cannot agree as to ownership matters. In such an action, the court will either order that the property be divided if possible, if not, then it will order a "sale in lieu of partition". Pursuant to such a sale, the property will be placed on the market for fait market value and the proceeds witill be equaitbly disrtibuted. First, however, if any owner wants to purchase the property they will have the right to buy out the other owner(s).
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