What can I do to get my money from a house that I co-own?

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What can I do to get my money from a house that I co-own?

No Will was left by my mother but her estate went through probate. I own 1/3 of the house. How can I get 1/3 of my money from the property? My brother and sister will not contact me about this and she has been living there for 3 years and not paying anything to me.

Asked on February 3, 2016 under Real Estate Law, California

Answers:

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

Answered 5 years ago | Contributor

In cases in which co-owners of property cannot agree on ownership matters, the party seeking a sale or buyout can go to court and seek a “partition”. A partition is a legal remedy employed in a situation such as this. It can be accomplished by the physical division of the property if practical or in the case of a single family dwelling, since physical division is not posible, the court would order a "partition by sale". Once the property is sold, the proceeds are equitably distributed to the owners. However, before a sale is ordered, the court permits the non-filing co-owners to purchase the interest of the other co-owner for fair market value. Since filing for partition is expensive and time-consuming, try to explain this to your siblings. In the meantime, you can consult directly with a local real estate attorney. They can best advise you further.


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