I co own a house with my sister i would like her to buy me out what should i do we havent spoke in years
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I co own a house with my sister i would like her to buy me out what should i do we havent spoke in years
I co own a house with my sister i would
like her to buy me out the deed says i
own 50 and we havent spoke in years
what should i do
Asked on May 7, 2018 under Real Estate Law, District of Columbia
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You can file for what is known as a "partition" action. In such an action, the court will order that the property be divided if possible. if not, such as in the case of a single familyhouse, then the court will order a "sale in lieu of partiton". This obligates the owners to place the property up for sale to the general public. In the case of a house, this means putting it on the market. First, however, any owner who wishes to keep the property has the right to buyout the other owner(s) for fair market value.
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