how do I cash out my 20 share of real estate I inherited?

I inherited a house with my 4 other siblings. It has
been 3 years since we inherited it. I want to sell.
How do I force them to sell or cash me out?

Asked on May 19, 2016 under Estate Planning, California

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

In a situation such as this you can file an action for "partition". This is a legal remedy employed when owners of proprty, real or personal, cannot agree as to ownership matters. What it entails is going before a judge who will either order an equitable division of the property if practical, if not, they will order the property to be sold with the proceeds to be equitably divided. If in the latter situation, the court will allow any owner who wishes to keep the propety the right of first refusal. This means that they can offer to buy out the party who wants to sell for fair market value before the property is offered to the public.
That having been said, you should be aware that a partition action can be time-consuming and expensive. So you may want to go over all of this with your siblings. Possibly at that point they will be more amenable to try and work things out.


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.