If 4 people own land together and 1 wants to sell their share, can they?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If 4 people own land together and 1 wants to sell their share, can they?

So 4 siblings share land equally and one wants to sell out. They are giving the other 3 a chance to purchase but the other 3 don’t agree on it or the price should be. What can happen?

Asked on February 19, 2018 under Real Estate Law, Minnesota

Answers:

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

Answered 6 years ago | Contributor

When co-owners of jointly held property cannot agree as to ownership matters, the law provides the remedy of "partition". Under a partition action, the court will order that the property be divided if practical. If not, then it will order a "sale in lieu of partition". Under such an action, the property will be sold and the proceeds equitably distributed to all owners. First, however, the property will be open to purchase by any of the other owners for fair market value. At this point, you should consult directly with a local real estate law attorney.


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