Does a forced sale necessarily have to go to auction?
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Does a forced sale necessarily have to go to auction?
We are 4 tenants in common; 1 will not cooperate. Will the court proceeding necessarily demand auction?
Asked on December 27, 2011 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Typically a forced sale of real estate is a partition action resulting from a court order after a lawsuit has been filed and a trial has been concluded.
Usually the court orders the property that is subject to the partition action to be listed by a designated real estate brokerage for a certain period of time where the court oversees the offers and entertains any applicable motions. Usually the court allows one party to the action to actually buy out other co-owners assuming the others want to be bought out at a stated price.
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