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No. A any co-owner (except a tenant by the entirety) who wants their monetary value in the property can file a petition to partition. Although the court will try to divide the land that option is not usually plausible. Most often, the land must be sold.
The court must appoint a commissioner to sell the property and distribute the proceeds. The commissioner must be paid. The real estate agent who handles the property must be paid. In addition, the sale of the real estate will be entirely out of the control of the owners. If an offer is accepted and repairs are required the cost comes out of the proceeds. There are court filing fees and other costs and legal fees. The net proceeds will then be divided equally among the owners.
With all that in mind, remember that the other owner(s) always have the option to avoid court by purchasing the co-owner's interest in the land for a mutually agreeable price. The parties should seriously try to settle the matter peacefully. The legal costs associated with partitions can be high and will be shared equally by all the owners.
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Can a person that owns 1 part out of 10 of a property make you sell the property if no one else wants to sell the land?
The other nine owners should buy out the interest of the one who wants to sell. The land should be appraised to determine the fair market value. That would be the fairest resolution. On the other hand, the one who wants to sell and get their cash value could file a petition to partition the land and the court may order that the land be sold. You can read more about partition at the related question link below.The least costly solution is to buy that 1/10 interest at a fair price.The other nine owners should buy out the interest of the one who wants to sell. The land should be appraised to determine the fair market value. That would be the fairest resolution. On the other hand, the one who wants to sell and get their cash value could file a petition to partition the land and the court may order that the land be sold. You can read more about partition at the related question link below.The least costly solution is to buy that 1/10 interest at a fair price.The other nine owners should buy out the interest of the one who wants to sell. The land should be appraised to determine the fair market value. That would be the fairest resolution. On the other hand, the one who wants to sell and get their cash value could file a petition to partition the land and the court may order that the land be sold. You can read more about partition at the related question link below.The least costly solution is to buy that 1/10 interest at a fair price.The other nine owners should buy out the interest of the one who wants to sell. The land should be appraised to determine the fair market value. That would be the fairest resolution. On the other hand, the one who wants to sell and get their cash value could file a petition to partition the land and the court may order that the land be sold. You can read more about partition at the related question link below.The least costly solution is to buy that 1/10 interest at a fair price.
In a forced partition of land if the non-partitioner paid all property taxes on land for 10 years are they entitled to recoup those monies from the party that brought the partition suit?
The person should submit a petition to the court requesting reimbursement. Proof of payment should be included. The court could decide to add those payments to the costs of the partition and all the owners would share the expense equally. You need to ask the court.
Can you use land as collateral for a loan if it is owned by three siblings?
You can only mortgage your own interest in the property. Generally, the lender requires that all owners consent to a mortgage so that in the case of a default, it can take possession of the property by foreclosure. Therefore, it is likely the lender will require that the other owners join in the mortgage.
Who are the land owners of antarctica?
There are no land owners of Antarctica.
Can a co owner force a sale of the property if the other is living in it?
Yes, by a partition. See related question.Yes, by a partition. See related question.Yes, by a partition. See related question.Yes, by a partition. See related question.
What does it mean to parition something?
To partition something means to divide it into several parts that are held separate from each other. This is true whether the partition is of land, as in Palestine/Israel, or of a hard drive, such at the main drive of a computer.
Can a Florida home owners association cut down trees on a privately owned lot?
A home owner's association -- as a legal entity -- is a property owner with the same rights as other property owners in the locale. It can cut down trees on land owned by the condominium. It cannot cut down trees on a privately owned lot, which would be land owned by someone else, without the written consent of that landowner.
Can a joint tenant force sale of the property?
Yes, land owned by tenants in common can be sold by a court decree through a partition proceeding in a court of equity. However, the costs will be deducted from the proceeds of the sale before they are equally divided between the co-owners. A partition proceeding can be costly. The issue should be discussed with the other tenant in common first. It may be cheaper for them to buy out the interest of the co-owner who wants to sell.
Force co-owners to sale land in Georgia?
If you are a co-owner in the property, you can retain an attorney and petition for partition. That means that the court would order that the property be sold, and the proceeds be applied to each person according to their proportional interest in the land after all costs have been deducted.
How do you file civil suit for proper partition of land which is in the name of my uncle Let me know procedure?
Contact a local advocate who has his office in vicinity of your residence as it will save both time and money for transport as you will need to meet him quite often and show him the documents of the land and other relevant documents and ask him to file a suit for partition and possession. The advocate will follow the procedural laws and have such partition done lawfully.
Post probate could court force a split ownership of land?
If several heirs inherited property and one wants to sell that person can petition the court to partition the property and it will be sold. The prodeeds after legal costs will be shared by the owners.
In Real Estate what is partition?
Partition is a judicial proceeding that can be used when multiple owners of real estate do not agree to selling the property. Often one co-owner wants their share in cash.A petition to Partition is filed in a court of equity. The Petition usually needs to be drafted by an attorney unless someone with legal experience is involved and can draft the Petition for the parties. The court will appoint a commissioner to oversee the process. The commissioner will file a report of findings with the court. If the land can be partitioned off, the court will divide the property. If the property cannot be reasonably divided the commissioner will arrange to sell the property. The grantor on the deed will be the Commissioner and the Partition case file will be referenced on the deed.When the property is sold, legal expenses, court costs, the commissioner's fee and other expenses relating to the sale will be deducted from the proceeds of the sale. The net proceeds will be divided equally amongst the co-owners.
