QUESTION

can i as a dual owner of a family home in brooklyn new york force a sale or buyout of the property

Asked on Feb 28th, 2018 on Property Law - New York
More details to this question:
I live in California I am ready to retire. I want my portion of the family home in Brooklyn. I co own with my sisters son.
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1 ANSWER

Civil Rights Law Attorney serving Rockville Centre, NY
1 Award
Yes- you can force a sale of a jointly owned property by bringing a partition action. You are asking the court, in such an action, to divide the property in two by forcing a judicially ordered sale of the house, and then divide the proceeds.  It's really the worst possible way to resolve such a situation because the expenses- lawyers, referees, appraisers- eat up the equity in the house- but sometimes there's no other option. If you could work out a buyout agreement- either lump sum, partial lump sum and monthly payments, or straight monthly payments- that's the best way to avoid litigation.  
Answered on Mar 05th, 2018 at 6:57 PM

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