CanIbe forcedto sell my half interest in aproperty?

Get Legal Help Today

secured lock Secured with SHA-256 Encryption

CanIbe forcedto sell my half interest in aproperty?

My parents and I have been half interest partners for 10 years. All of a sudden they want to sell the property and I don’t. They said they are going to petition a sale if I don’t buy them out. Can they legally do that?

Asked on November 26, 2011 under Real Estate Law, Florida

Answers:

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

Answered 10 years ago | Contributor

As you are aware, the legal remedy available when joint owners of property cannot agree as to ownership matters is "partition". In a partition a property will be divided if at all feasible; then those who want to dispose of the property can do do and those who want to retain the property can also so as they wish. However, in the case where a division is not a practical option (such as in the case of a single family dwelling) the court will order a "sale in lieu of partition". Accordingly the property will be put up for sale. However, the party who is seeking to keep the property, will first be be given the right to buy out the others owner for FMV (i.e. fair market value). 


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption