I’m looking to sell a house currently under 50/50 ownership but the other party refuses to sell. What is my process?

I’m looking to sell a house currently under 50/50 ownership but the other party refuses to sell. What is my process? Both parties have legal documents already indicating their shares of ownership. The house has been already valued but I do not know what I need to do extra to go forward with the sale. I’m under the impression that the house territory needs to be

Asked on December 15, 2017 under Real Estate Law, New York

Answers:

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

Answered 3 years ago | Contributor

When co-owners of property (real or persoal) cannot agree as to ownership matters, the law provides the legal remdy of "partition". In a partition action, a court can either order that the property can be divided it practical; if not (as in the case of a house), then the court will order that it be sold. At that point the proceeds of the sale will be equitably divided. First, however, any owner who wants to keep the property will have the right to buy out the other owner(s) for fair market value. At this point, you should consult directly with a local real estate atorrney who can best advise you further under specific state law.

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

Answered 3 years ago | Contributor

When co-owners of property (real or persoal) cannot agree as to ownership matters, the law provides the legal remdy of "partition". In a partition action, a court can either order that the property can be divided it practical; if not (as in the case of a house), then the court will order that it be sold. At that point the proceeds of the sale will be equitably divided. First, however, any owner who wants to keep the property will have the right to buy out the other owner(s) for fair market value. At this point, you should consult directly with a local real estate atorrney who can best advise you further under specific state law.


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.