How to sell co-owned property if one owner does not want to sell.
- October 29, 2015
- David Greene
- Comments Off on How to sell co-owned property if one owner does not want to sell.
The law provides a way out of this common dilemma that usually arises following an inheritance by several siblings. One or more want to sell and get the money while the others want to keep the property. It is called a Partition Action. The one wanting to sell must file a suit in Circuit Court to partition the property, naming the other owners as defendants. After they all testify and provide evidence concerning ownership and value, the Court must make a ruling to either actually physically divide the property into approximately equal pieces or to order the property to be sold and the proceeds divided. The more acres there are, the more likely it is to be physically divided.