Posted on: 18th Feb, 2009 07:34 am
i own property with brother & sister via quit claim deed, my sister and i wish to make a loan against this property (property is paid for), brother will not hear of it. do we have any options other than buying brother out?
Hi cld,
I don't think you have any option other than buying your brother out. Since all three of you are on the title, you are co-owners. All of you have a legal right to the property. Now, without the consent of your co-owner(s), you cannot sell or mortgage the property.
You can take the advice of an attorney who might be able to show you some other way by which it can be done without having to buy him out..
I don't think you have any option other than buying your brother out. Since all three of you are on the title, you are co-owners. All of you have a legal right to the property. Now, without the consent of your co-owner(s), you cannot sell or mortgage the property.
You can take the advice of an attorney who might be able to show you some other way by which it can be done without having to buy him out..