If 4 people own land together and 1 wants to sell their share, can they?

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If 4 people own land together and 1 wants to sell their share, can they?

So 4 siblings share land equally and one wants to sell out. They are giving the other 3 a chance to purchase but the other 3 don’t agree on it or the price should be. What can happen?

Asked on February 19, 2018 under Real Estate Law, Minnesota

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

When co-owners of jointly held property cannot agree as to ownership matters, the law provides the remedy of "partition". Under a partition action, the court will order that the property be divided if practical. If not, then it will order a "sale in lieu of partition". Under such an action, the property will be sold and the proceeds equitably distributed to all owners. First, however, the property will be open to purchase by any of the other owners for fair market value. At this point, you should consult directly with a local real estate law attorney.


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