If my name and a relative’s name are on the mortgage and deed to a home, what if I want to sell it but the other person doesn’t want to?
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If my name and a relative’s name are on the mortgage and deed to a home, what if I want to sell it but the other person doesn’t want to?
I want to sell a house that I live in for several months out of the year. I no longer wish to keep the house and want to sell however the other person does not want to sell the house. We are both on the mortgage and deed. The other person is a family member who lives in the house full time.
Asked on July 12, 2018 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Since you are a legal owner of the home, you have rights. When co-owners of property cannot agree as to whether or not to sell it, the law provides the remedy of "partition". In such an action, the court will order that the property sold if practical. If it is not (such as in the case of a single family house), it will instead order a "sale in lieu of partition". Accordingly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably distributed. However, before the property is offered to 3rd parties, any owner who wants to keep the property can buy out the other owner(s).
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Since you are a legal owner of the home, you have rights. When co-owners of property cannot agree as to whether or not to sell it, the law provides the remedy of "partition". In such an action, the court will order that the property sold if practical. If it is not (such as in the case of a single family house), it will instead order a "sale in lieu of partition". Accordingly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably distributed. However, before the property is offered to 3rd parties, any owner who wants to keep the property can buy out the other owner(s).
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