there a 4 owners of a residential property. If 3 want to sell and one does not, can the sale be made?

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there a 4 owners of a residential property. If 3 want to sell and one does not, can the sale be made?

The house is in Wilmington Delaware.

Asked on September 25, 2018 under Real Estate Law, Delaware

Answers:

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

Answered 3 years ago | Contributor

Yes, a sale can be forced. The owner who wants to do so can go to court and file for a "partition". In such an action, if the property is capable of being divided, it will be so ordered. However, if division isn't feasibale (as in the case of a singe family house), then the court will instruct that there be a "sale in lieu of partion". Accordngly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably divided among the owners, although before it is offered to third parties to purchase, any owner who wishes to keep the property may buy out any owner who wants to sell.

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

Answered 3 years ago | Contributor

Yes, a sale can be forced. The owner who wants to do so can go to court and file for a "partition". In such an action, if the property is capable of being divided, it will be so ordered. However, if division isn't feasibale (as in the case of a singe family house), then the court will instruct that there be a "sale in lieu of partion". Accordngly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably divided among the owners, although before it is offered to third parties to purchase, any owner who wishes to keep the property may buy out any owner who wants to sell.


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