If there is an agreement between the two sisters (if they are the joint owners) as to the buyout of one and transferring the deed and title, then you do not need to involve the court with a petition for partition. That can be done by an attorney who can prepare an agreement and after the exchange of funds etc., prepare and record the new deed. If there is no agreement, then you would need to seek court intervention. While there is never any guarantee, the court may have no problem ordering partition but then the issue becomes forcing a sale of the property so that each party can get their 1/2 interest.
The best option is of course an agreement. One caveat - if the sisters are also jointly on the mortgage, then the mortgage company may have to be consulted and provide approval for the transfer of title to the remaining sister and the release of liability on the mortgage for the other. If she would not financially qualify for a mortgage without her other sister, there could be a concern since the sister transferring title may still be on the hook for the mortgage.
I hope that the above provides some initial and general guidance. I am unable to provide definite advice without being informed of all of the facts and circumstances. Also, the above is based on Pennsylvania law and relates to a Pennsylvania property. If you are going to proceed to attempt the transfer of title etc., please consult with an experienced real estate lawyer who can more properly advise you.
Marla D. Sones
Answered on Feb 07th, 2012 at 8:17 AM