If a brother and sister are partners in a mobile home park and can’t agree on things. So one wants to sell other don’t what are my options
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If a brother and sister are partners in a mobile home park and can’t agree on things. So one wants to sell other don’t what are my options
We own mobile home park and can’t agree
Asked on December 17, 2016 under Real Estate Law, Kentucky
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
When co-owners of property, real or personal, and cannot agree as to ownership matters the law provides a remedy known as "partition". Further, there are 2 kinds of partition: “partition in kind” and “partition by sale”. Partition in kind is an actual division of the property whereby each owner ends up controlling their own separate portion of the property. Partition by sale is accomplished by selling the entire property and dividing the proceeds equitably among the owners. This type of partition is used when partition in kind is impractical (for example as in the division of a single-family home). However, before forcing an unwanted sale, the court can permit that 1 of the co-owners purchase the interest of the remaining co-owner(s) for fair market value. In your situation, I don't know how feasible it is to divide the mobile home park, so a sell might be oredered. What you should do now is to consult directly with a local attorney. After going over all of the details of the case with you, they can best advise you further.
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