What to do if I am joint owner with my brother and I need to sell my half of the property but my brother is giving me a hard time?
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What to do if I am joint owner with my brother and I need to sell my half of the property but my brother is giving me a hard time?
He is telling me who and who I can not sell my half to. Does he have the right to do this? I told him if I don’t sell my half of the property I would not have to file for bankruptcy. I have been unemployed for over a year and I have just been paying the minimum balance on my bills. I gave my nephew (his son) first choice to buy my half so it would be kept in his family. My brother said if I file for bankrutcy and if his son bought my half, his son might be liable for some of my debts in the future. Is this true?
Asked on September 23, 2011 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Unless there is some right of first refusal held by your brother on the property that you own a fractionalized interest on, you have every right to sell your interest in it to whoever you desire to do so.
If you nephew is willing to purchase your interest in the property at a set price and perhaps upon installments to you (or pay you off with cash) a formal escrow needs to be set up for the transaction where your nephew obtains title insurance for the desired purchase. By getting title insurance, all issues concerning prior liens of record as to you and the parcel will be ascertained and taken care of before close of escrow so the nephew will not be obligated upon if the sale happens and title is transferred.
I suggest that you and your nephew retain a real estate attorney to asisst you in the desired sale. You do not need a real estate agent since you have your nephew as a willing buyer.
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