Posted on: 30th May, 2006 07:57 pm
When I have offered a fair price for a property I own with my sister, based on an appraisal, can she force a sale through partition?
Hi Spgriffin,
She can always bring a partition lawsuit against you to force the sale of the property, whenever she wants. The sales proceeds will be divided among all the co-owners of the property according to the share of their interests.
A partition sale is a court ordered sale. The court may appoint a referee to judge to share of the equity while partitioning.
Thanks
She can always bring a partition lawsuit against you to force the sale of the property, whenever she wants. The sales proceeds will be divided among all the co-owners of the property according to the share of their interests.
A partition sale is a court ordered sale. The court may appoint a referee to judge to share of the equity while partitioning.
Thanks
I leave in NY and was left shared property through a will. The house is also owned by a sister who wanted the whole property for herself, daughter, grandson, neice and her kids. They have threaten me since the will has been read. Moved the grand son into the alloted spot that was left to me by my aunt. There is no peace living with these people....and what's so crazy she just got a check from the insurance company from her exhusband death of $250000. The greed has really taken over. Can I ask for a partion to sale? All they want to do is fight and I can't live the rest of my life like this. :(
triedtogetalong
You need not worry about your legal stand on this matter.So I will advice you to go ahead with court order for partition.As you are on the will,you have the right to go in court to bring the partition judgment.
As you rightly said, "Greed of the person can not be satisfied by all the means of the world."
You need not worry about your legal stand on this matter.So I will advice you to go ahead with court order for partition.As you are on the will,you have the right to go in court to bring the partition judgment.
As you rightly said, "Greed of the person can not be satisfied by all the means of the world."
Hi Guest,
Has the will been probated and the property has been transferred in your sister's name and your name? If yes, then you will be able to file a partition lawsuit. You need to get in touch with an attorney and file the lawsuit at the court house.
Thanks
Has the will been probated and the property has been transferred in your sister's name and your name? If yes, then you will be able to file a partition lawsuit. You need to get in touch with an attorney and file the lawsuit at the court house.
Thanks
My husbband and are want to get out of owning a house in the French Quater with another couple. The other couple want to keep things they way they are. We are thinking a filing a petition for speration of property. If a third party comes in to buy the house is the house subject to the morgage
When having property begining sold as a partition sale is the buyer of the highest bid subject to the exsisting morgage?
hi claudine!
welcome to forums!
the third party can take out a mortgage in order to buy the property. however, if they have cash to buy the property, then they won't have to take out a mortgage. whoever buys the property, he/she will have to refinance the existing mortgage in order to take over the loan in his/her name.
feel free to ask if you've further queries.
sussane
welcome to forums!
the third party can take out a mortgage in order to buy the property. however, if they have cash to buy the property, then they won't have to take out a mortgage. whoever buys the property, he/she will have to refinance the existing mortgage in order to take over the loan in his/her name.
feel free to ask if you've further queries.
sussane