How to sell my share when co-owner does not want to sell.

This is a discussion on How to sell my share when co-owner does not want to sell. within the Buying & Selling Property forum, part of the REAL ESTATE & PROPERTY LAW category; My father and his brother currently own several parcels of property. They are 50-50 owners of the land. My father ...

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Old Jul 10th, 2012, 09:56 AM   #1
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Question How to sell my share when co-owner does not want to sell.

My father and his brother currently own several parcels of property. They are 50-50 owners of the land. My father wants to sell but my uncle does not. My uncle is currently non-responsive to any attempts from my father to discuss the properties and my father is providing upkeep of the properties. My uncle does not have any desire to sell or take care of the land. Because of this, my father has had a difficult time in finding a buyer for his share of the properties. What should my father do in order to divide the land or parcels up that will make the selling of his share easier?
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Old Jul 10th, 2012, 10:11 AM   #2
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Default Re: How to sell my share when co-owner does not want to sell.

I wish to inform you that both your father and uncle may sever their joint tenancy by mutual consent. If your uncle does not consent, your father may severe the joint tenancy by giving written notice. Lastly, in a joint tenancy a co-owner can at any time sell his interest in the property to a third party. Alienation acts to sever the joint tenancy because it destroys the unity of title. The purchaser from your father must be a tenant in common as the unities of time and title are destroyed. Severance by selling or transferring your father's interest to a third person does not require the consent or notification of your uncle. Upon transfer, the transferee and your uncle will hold equal shares as tenants in common.

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Old Jul 10th, 2012, 02:16 PM   #3
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Default Re: How to sell my share when co-owner does not want to sell.

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My father and his brother currently own several parcels of property. They are 50-50 owners of the land. My father wants to sell but my uncle does not. My uncle is currently non-responsive to any attempts from my father to discuss the properties and my father is providing upkeep of the properties. My uncle does not have any desire to sell or take care of the land. Because of this, my father has had a difficult time in finding a buyer for his share of the properties. What should my father do in order to divide the land or parcels up that will make the selling of his share easier?
Your father will continue to have problems selling his share of property with another person in title, especially the intransigent brother. You do not wish to be a partner with him and you are his brother. Think of how a stranger would feel.

What you will need to do is file an action in court for partition. That means the interest in the property will be partitioned -- by sale. The brother can be ordered to buy out your interest or else the property will be ordered sold and each receive their share after selling costs.

My recommendation is that you see a real estate attorney for advice and help. Perhaps your brother hearing from a lawyer, facing the prospect of going to court and facing the inevitable, a forced sale of his interest too will make him see the light. He is the best person to buy you out, anyway.
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Old Jul 10th, 2012, 05:10 PM   #4
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Default Re: How to sell my share when co-owner does not want to sell.

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Your father will continue to have problems selling his share of property with another person in title, especially the intransigent brother. You do not wish to be a partner with him and you are his brother. Think of how a stranger would feel.

What you will need to do is file an action in court for partition. That means the interest in the property will be partitioned -- by sale. The brother can be ordered to buy out your interest or else the property will be ordered sold and each receive their share after selling costs.

My recommendation is that you see a real estate attorney for advice and help. Perhaps your brother hearing from a lawyer, facing the prospect of going to court and facing the inevitable, a forced sale of his interest too will make him see the light. He is the best person to buy you out, anyway.
Bravo Friend in Court! In typical fashion, AFFA offered ridiculous advice about tenancies???? Good job!
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Old Aug 1st, 2012, 06:00 AM   #5
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Lightbulb Re: How to sell my share when co-owner does not want to sell.

You can convince your co-owner of the benefits that are available if they both mutually understand and sell the property. This also depends on your level of interpersonal relationship with him/her. You can also offer an 60-40% share of profits to him/her, if you want to sell the property immediately. I have rental homes in Fort Worth Texas and because of these problems I never make partners in investments.
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Old Aug 3rd, 2012, 05:46 AM   #6
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Default Re: How to sell my share when co-owner does not want to sell.

Since you and your brother own the land with equal rights. The only things you can do are that request the court to split the asset in two which will allow you the right to do whatever you want with your portion of the asset. Get a lawyer and discuss the issue in details and get your case resolved.
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Old Aug 3rd, 2012, 06:53 AM   #7
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Default Re: How to sell my share when co-owner does not want to sell.

If this situation occurs, the owner who wants to sell may have to hire a lawyer or mediator to resolve the situation.
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Old May 16th, 2013, 12:31 AM   #8
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Default Re: How to sell my share when co-owner does not want to sell.

You can influence your co-manager of the profits that are accessible in the event that they both commonly grasp and advertise the property.
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Old Jun 1st, 2013, 12:11 AM   #9
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Default Re: How to sell my share when co-owner does not want to sell.

Better convince your Father or Uncle. Tell to your uncle about the property selling needs or go with Real Estate agents they will sell or buy the property which is in your father portion.

You can sell half of the portion which is your father having by Good Reputed Real Estate Agents or brokers. Sometimes they will solve the Foreclosure Problems, Mortgage etc..,

So you consult with them and decide.
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