QUESTION

my husband and his two sisters own their deceased parents home free and clear. My husbands wants to sell his 1/3 and take his name off title.

Asked on Aug 10th, 2012 on Real Estate - New York
More details to this question:
can he force his sisters to buy him out..or is he just stuck. One sister lives in the house and she isn''t paying anything. His siblings are ignoring his request to buy him out of this house. Help! He has a chronic health issue and needs his share of the money to set up long term care. The house is in N.Y. and we live in Florida
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1 ANSWER

Real Estate Law Attorney serving Anniston, AL at Isom Stanko & Senter, LLC
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There are two "hard parts" to the problem.  The first is arriving at the point of filing a lawsuit against a sibling.  The other is the distance. The good news is that almost certainly New York has a proceeding whereby a co-owner can petition the court to require that co-owned property be sold for a division of the net sale proceeds.  Such a suit is not really a lawsuit against the siblings -- it is a lawsuit asking the court to require that the property be sold.   In such a suit, any of the co-owners would "probably" have a right to purchase the property for an appraisal value to avoid the sale.  Otherwise, the court would almost certainly order a sale by public auction and the sale would be conducted by court personnel.  An auction will not necessarily bring market value, but it would get the job done.   Find a recommended real estate lawyer in the county where the property is located.  I don't recommend using the yellow pages for the search for a lawyer.  Try to get a referral from someone.  
Answered on Aug 11th, 2012 at 2:19 PM

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