Can a third party sell a piece of land that has 3 owners who cannot agree, if the land is stated as each owns 1/3?

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Can a third party sell a piece of land that has 3 owners who cannot agree, if the land is stated as each owns 1/3?

And if all 3 had to sign a bond for it to be legal, then can one person go off the bond and it become null and void?

Asked on August 12, 2012 under Real Estate Law, Kentucky

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, if one person owns a one third (1/3) interest in a given parcel of land, he or she can sell this one third (1/3) interest in it to any third person so long as there is no contract with another person giving an option to purchase or a right of first refusal.

I suggest in the matter you are writing about that a real estate attorney be consulted with respect to any sale negotiation.


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