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Laguna Niguel, Ca | I co-own a home and want to sell it but the other party doesn't want to sell it.? |
I bought a home with my sister and I want to sell the home now. We've owned it for almost 5 years. My sister is half owner also and she is not motivated to sell the home because her down payment was large and she pays very little for her share of the monthly mortgage. She now has her daughter (almost 30 years old) living "rent free" in my home. I need help on what to do in order to force her to to allow me to sell the home and to move on with my life without my sisters negative influence on my life. My sister doesn't have the $ to buy me out. She has no motivation to accomodate my wishes of selling the home and gaining my independence from her negative influence in my life. She forces me to use "my money" for all upgrades and house painting to prep the house for selling. Is my only option to get an attorney? If so, what type of attorney? Are there any other options I have? Is all of this going to require "me" to come up with the money to force the issue? |
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Joe
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Just have her daughter pay the entire mortgage, taxes, and insurance in lieu of rent. That's fair and someday you can profit from the increase in value of the house. Otherwise, depending on the title on the deed, you may have to force a sale. |
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notyou311
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Can you buy her out? It is a huge mistake to buy property with another person. You may have to consult a real estate attorney. |
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St N
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Check with a real estate agent. You may be able to put your half of the house on the market, clearly identifying the sale as half ownership. This will then force her to accept the sale, buy you out, or accept a new co-owner. You dump the ball in her court. Her problem. |
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justagrandma
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See a real estate lawyer, she can't 'force' to use your money, you just give in, you need a lawyer so you know where you stand legally, like does her daughter need to pay you half the going rate for rent because you can't rent to a paying tenant.
You need a lawyer because if she won't buy you out, then you might want to look for someone interested in buying your share, not likely but it could get her to move her butt.
You need a lawyer because you can't tell them to pay you or to share fix up costs or to make sure you don't get screwed.
Take the money shes been making you use to fix up the house for her daughter and use it to get the freeloader out of the house and use it to pay for the lawyer. |
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Janet P
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There isn't anyway without a law suit and a court order. You really need to talk her into it. It is really hard to force anyone to sell their property. |
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Answers
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Go to a Lawyer and get a writ of partition. |
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Douglas D
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Well I don't have to tell you what your 1st mistake was, so I won't insult you by stating it here. The big question now is: did you get her to sign a co-ownership agreement with you?
If you did, then there should be a provision to handle the contingency of one of you wanting to sell their share of the property.
However, if you did not have her sign an agreement with you then I highly recommend that you get an attourney involved. The obvious choice would be an attourney who understands Real Estate law, but I think you need one who is better at litigation.
But before you do that, I suggest that you sit down with your sister just one more time & make an appeal to her thrifty side.
Tell her that she can make an honest effort to resolve this issue outside of the courts, or she can force you into calling an attourney, & then the courts, & the lawyers can be the ones who walk away with all of the profits from the sale of your home.
I can promise you that the court will order the house to be sold, & the proceeds from the sale of the property will be divided according to who has the most equity in the house.
But as I said before most of that will then go to the lawyers, & the courts.
Your best bet is if she can arrange for a 2nd mortgage on the house so she can buy you out.
She should look into it & get a solid answer from a bonifide lending institution before she just off-handedly dismisses the idea as one that she cannot afford. Neither one of you sound to me like particularly money-smart people.
After all, she could offset the cost of the 2nd mortgage by asking her daughter for rent. |
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littlesisdontcha
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You may need to consult an attorney. I bought my aunt's half interest in property owned by her and another aunt who was unwilling to sell. If you are paying for all of the upkeep a lawyers fee may be less cost to you in the long run. |
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Bugman 2007
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Get a real estate lawyer. You should discuss a couple of options, with him/her. How to buy her out of the house, have her buy you out of the house, or just plain out force the sale of the property.
I am sure the house has increased in value since you bought it. Either you or your sister could re-fi the house and buy the other out with little to no moneys out of pocket.
Don't fix anything. Since, the property is jointly owned there needs to be an equitable split of all expenses.
Also, is this a rental/income property? If so, let your sister deal with everything .
Speak with a lawyer. |
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the blind
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There might be a possibility to terminate your joint partnership with your sister. But I would talk to her first. Because they are after all family. In joint partnership contract when you break one of the unity then the contract will be terminated. In the case of each holding undivided possession of the property, your domain has been partially possessed by your niece therefore the unity is broken. |
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