Can one individual of a multi-owned property be forced to pay for taxes and upkeep if they want to sell the property?
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Can one individual of a multi-owned property be forced to pay for taxes and upkeep if they want to sell the property?
There are 6 owners. 3 want to sell it and 3 want to wait on selling it. Which is forcing the 3 to pay for upkeep and taxes when they just want sell it. What are the options on having to pay until they are ready to sell?
Asked on May 12, 2018 under Real Estate Law, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
1) *Someone* needs to pay taxes (and any mortgage) or else the property will be foreclosed upon. Similarly, someone needs to pay maintenance or upkeep or it will lose value. If some of the owners don't pay their share, the others can likely sue them to recover any unpaid amounts, assuming there was an agreement (potentially even an oral or unwritten one) about sharing costs.
2) When the owners of real estate can't agree as to what to do with it, the one(s) who want to sell can bring a legal action which had traditionally been called an action "for partitition" (though your state may have a different name for it) in which you seek a court order compelling that the property be sold and the proceeds (after paying cost of the action, cost of sale, and any mortgages or liens) be divided among the owners. This is the law's recourse when the owners disagree about the property. The action could be voluntarily settled by the ones who want to hold onto the prooperty agreeing to buy out the others. A real estate attorney can help you with this action.
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