If I have inherited some land and the deed is in both mine and my brother’s names, what must I do to sell my half?

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If I have inherited some land and the deed is in both mine and my brother’s names, what must I do to sell my half?

Asked on April 11, 2012 under Real Estate Law, Georgia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Good question. You can sell your half to anyone that you want but you need to remember a fractionalized interest in real property is worth less than its percenate with respect to the fair market value of the property if the entirety is not being sold.

I would first offer your share in the property to your brother to buy. If he is not interested, then you can list your fractionalized interest with a real estate agent or retain a real estate attorney to assist in a sale with a third party. The best way to sell it is to agree on a written price with your brother where he either pays you off all at once or he signs a promissory note secured by a mortgage or trust deed and pays you off over time.


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