My ex business partner and I co own a property can you sell it without both owners permission?

I did not know my ex-partner showed the
property.

Asked on July 11, 2017 under Real Estate Law, New Mexico

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If you are both owners, then no, it cannot be sold without your permission. It can be *shown* without your permission and terms (including price) of possible/potential negotiated, since anyone can engage in negotiations for any future or hypothetical event, and an owner has the right to show anyone, including prospective buyers or realtors, a property; but all of that will be moot unless you agree to a sale, and the sale cannot happen without your consent.
Of course, like most things in the law, there is an exception. The law recognizes the sometimes property owners get into a standoff, and when that happens, does not want to force someone to remain locked into a property he/she doesn't want forever. Therefore, the owner who wants to sell can bring a legal action (lawsuit) for "partition"--for a court order requiring that the property be sold and the proceeds be distributed among the owners. This can take months or longer, and can cost thousands of dollars in legal fees (for both parties), so it's better to try to voluntarily work matters out before it comes to that.


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