If I co-own a house and want out but my co-owner doesn’t want to sell and has been unable to refinance or assume the loan, what options do I have?
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If I co-own a house and want out but my co-owner doesn’t want to sell and has been unable to refinance or assume the loan, what options do I have?
Asked on April 23, 2012 under Real Estate Law, Washington
Answers:
Kenneth Berger / Kenneth A. Berger, Attorney at Law
Answered 11 years ago | Contributor
In Washington, the typical method to deal with your problem is to file a partition action. A "referee" is appointed by the court to put the property up for sale or divide the property if that is possible/practical.
I assume that you are not a domestic partner with the co-owner, because if you are there are other options.
As always, my comments are only applicable to Washington State and are not a substitute for getting competent, local, and more comprehensive, legal help.
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Check with ana ttorney in your area as to the factors involved in bringing an action for partition. An action for partition asks a court to take an asset that is jointly owned and split it in half. With money that it easy. With a house it is not, so a court can order the house sold and the money split. Some states require that you shouw financial hardship in keeping the property. Good luck.
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