QUESTION
Is there any law against the other 3 parties making money off of what I've paid and worked for?
Asked on Sep 21st, 2012 on Estate Planning - Michigan
More details to this question:
I live on a farm that is owned by four parties my two sisters, brother and I. They all own a house of their own but I have been living on the farm for over 30 years. Now they are trying to sell it from beneath me. I've fixed this farm and rebuilt it from the ground up.
11 ANSWERS
Tamara Marie Chin
Lawsuit. Depends on what kind of deal you had with them when you were living there.
Answered on Jun 27th, 2013 at 1:56 AM
Leonard A. Kaanta
It depends on how the property is owned.
Answered on Jun 27th, 2013 at 1:52 AM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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You have the classic case of a partition lawsuit. My suggestion is to see an attorney as soon as possible to protect your interests, including the value of your labor over the last 30 years.
Answered on Sep 25th, 2012 at 12:52 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Probably not. If you own the property together, then they share in the profit with you. If you are able to do so, the best option you have may be to buy the others out.
Answered on Sep 25th, 2012 at 12:51 PM
Tax Attorney serving Portland, OR
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Bullivant Houser Bailey PC
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Assuming the property is owned as tenants in common, they have the right to partition the farm which usually results in its sale (and a fair amount of legal fees). If the property is partitioned by sale, you would be entitled to reimbursement for the amounts that you spent that improved the value of the farm before dividing the remaining proceeds.
Answered on Sep 24th, 2012 at 6:09 PM
You can oppose the sale, you should consult a real estate attorney to advise on how to protect your interests.
Answered on Sep 24th, 2012 at 6:09 PM
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Do you have a written agreement about how the property is to be handled? Are you an owner as well? I suggest that you seek legal counsel in the jurisdiction where the property is located. The answers to these questions will help the attorney advise you accordingly.
Answered on Sep 24th, 2012 at 6:08 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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This is a very complex question of real property law. You need a lawyer. They can't sell it without you joining in the sale, but they can just go on sharing in the benefit while you do all the work.
Answered on Sep 24th, 2012 at 6:08 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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No, there is no law. But consider the: did you pay rent for those years to the other siblings? If not, your siblings will certainly have an offset to any major claim in value you may have for increasing the value of the land. Yes the property can be sold. You can offer to purchase their interests. All of you may want to consider the use of a mediator to come to an agreement as to sale, value, etc.
Answered on Sep 24th, 2012 at 6:07 PM
There is no law against it. In fact, it is a basic investment principle that, when a group of people own something of value (a business or a painting... for examples) all of the co-owners share equally in all profits and losses.
Answered on Sep 24th, 2012 at 10:16 AM
The rights and responsibilities of co-owners of land to each other is entirely grounded in the common law - (1) If they cannot agree, a court probably would order partitioning of the entire parcel into four pieces, dividing the arable land in doing so. (2) The entire parcel, of course, cannot be sold without your agreement or a court order. (3) The manner in which profits from the sale of crops or livestock was divided among the four siblings may influence the manner in which the land is divided or the proceeds divided upon forced sale of the entire parcel. (4) The title ownership of the individual houses, too, would be important.
Answered on Sep 24th, 2012 at 10:14 AM