Real Estate

This is a discussion on Real Estate within the Buying & Selling Property forum, part of the REAL ESTATE & PROPERTY LAW category; California Real Estate My sister and I jointly own (50/50) an apartment building through inheritance. She wants to sell it ...

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Old Sep 30th, 2009, 11:10 PM   #1
fricko
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My sister and I jointly own (50/50) an apartment building through inheritance. She wants to sell it but I do not. Alternatively she wants me to buy out her half but I have inadequate funds for that. Can she force me to sell or buy her half - who is responsible for the price of a loan, should I be forced to buy her out? Since the real estate market is now weak, we would both lose money if we sold now, no matter what.
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Old Oct 1st, 2009, 10:43 AM   #2
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If two or more owners cannot agree on what to do with a piece of property they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the property obligation and/or the other(s) may keep it etc.--it is often done-- (This is true in some cases even for equitable owners that have paid various amounts etc., but for various reasons, may not be on title.)
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