When co-owners of real estate cannot agree, what happens?
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When co-owners of real estate cannot agree, what happens?
My mother, aunt, 2 cousions and I are on a survaior deed. I have been paying the house payment,insurance, and taxes on the property since my grand mother passed away last year. I am wanting to borrow money to fix the house. Every one is OK with signing the house over to me where I can borrow the money to fix it expect my aunt. Since I am paying every thing on it and have been for a year and a half. Is there any way I can do it without my aunt involved in it?
Asked on September 27, 2012 under Real Estate Law, Georgia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
So long as one of your aunt is on legal title to the property that you and many relatives own together and she is not willing to allow the proposal that you have written about to repair the unit, there really is nothing you can do about her decision other than to try and buy out her interest in the unit or she buys yours out.
From what you have written, you and other family members need a partnership agreement drawn up to set forth the obligations owed to the other concerning how this real property is to be utilized in the future. For such, I suggest that you consult with a real estate attorney.
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