QUESTION
I own rental property with my sister. I no longer want it as of July 2016. I had the property appraised, my sister refuses to pay me half. Partition?
Asked on Jan 14th, 2017 on Residential Real Estate - California
More details to this question:
My wife, myself and her sister had rental property (Alameda, Harbor Bay townhouse) that was left to them by her now deceased Mother. My wife and I have decided that we no longer want to be involved as of July, 2016. We have had the property appraised and her sister continues to play games and not pay our half of the property. She was supposed to do this per our accountants request as of 01/02/2017. What might be the best scenario re partition action. Can I file for an action partition? Yes or no Please
1 ANSWER
2 Awards
Hi John,
Yes, assuming that your sister will not agree to buy out your interest in the property, the best option would be to file an action for partition. A partition action is relatively simple and almost always results in a negotiated resolution and/or a sale of the property. I have handled many of these suits and would be happy to discuss the process with you if you would like.
Thanks,Jon
Answered on Jan 16th, 2017 at 11:49 AM