Posted on: 30th Jul, 2007 04:54 pm
In 1998 I purchased some property, the title to the proprety is in my name. I built a duplex on the property with my brother (brother paid for half the property as well as the cost of building the duplex) Once the duplex was built I quit claimed one of the duplex units to my brother. I currently would like to relocate to another state and will not be able to without selling this property. What are my options if my brother is not willing to buy me out. Can I be forced to stay in the deal with him for the rest of my life if he refuses to sell the entire place? Thank you
You can force the house to be sold using what is known as partition lawsuit. In partition lawsuit any of the owners can ask the court to sell the house and distribute the proceeds among the owners. Please read more about it from: http://www.mortgagefit.com/know-how/removecoborrower.html
Miller
Miller
I agree with Miller, if your brother is not agreeing then a pertition lawsuit will be the only way to get the house sold.
Hi Jol,
You can file a partition lawsuit, as said by Miller, and proceed for the sale of the property. In this case, you don't have to be concerned about your co-owner's intervention.
You can file a partition lawsuit, as said by Miller, and proceed for the sale of the property. In this case, you don't have to be concerned about your co-owner's intervention.