Can I force the sale of my house if I co-own it with someone else and I want to sell but they don’t?
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Can I force the sale of my house if I co-own it with someone else and I want to sell but they don’t?
Can I make them sell it or buy me out maybe?
Asked on July 4, 2019 under Real Estate Law, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
When joint owners cannot agree as to ownership matters, the law provides the legal remedy of "partition". In such an action, the court will order that the property be divided if possible. If not, such as in the case of a single family house, then it will order a "sale in lieu of partition". Accordingly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably distributed. First, however, before being offered to any 3rd parties for purchase, any owner who wants to buy out the other owner(s) can do so, again for fair market value.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
When joint owners cannot agree as to ownership matters, the law provides the legal remedy of "partition". In such an action, the court will order that the property be divided if possible. If not, such as in the case of a single family house, then it will order a "sale in lieu of partition". Accordingly, the property will be put on the market and sold for fair market value. The proceeds will then be equitably distributed. First, however, before being offered to any 3rd parties for purchase, any owner who wants to buy out the other owner(s) can do so, again for fair market value.
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