Selling a
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Selling a
I’m in over my head financially with my
home but my son is on the deed I would
like to sell it but we are not on
speaking terms what options do I have
Asked on November 1, 2018 under Real Estate Law, Massachusetts
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
The law provides the remedy of "partition", which is a legal tool employed when co-owners of property cannot agree as to ownership matters, including whether or not to sell. In a partition action, the court will order that the property be divided, if possible. If not, such as in the case of a single family house, then the court will order a "sale in lieu of partition". This means that the property will be put on the market for fair market value. When an offer is accepted and the sale completed, the proceeds will be distributed equitably to the owners. First, however, the party (or parties) who want to keep the property will be given the chance to buy out the other owners who do not want the property.
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