QUESTION

Selling property owned by multiple owners

Asked on Nov 11th, 2016 on Real Estate - California
More details to this question:
I built a home on a piece of property that my father put into my name and also my 2 siblings. My father wanted one of us close to him to help take care of him in his old age, which I did. He has since passed away and no one lives in his home, it needs a lot of work. I am the only one that lives on the property in the home that I built. The home that I built is separate property if I understand correctly. The problem now is I want to sell the home that I built and my 1/3 interest in the property but my 2 siblings do not want to sell. One sibling is offering to buy me out at a big discount price. How can I sell my home and my interest in the property without taking a big lose in value? Thank you for your response.
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1 ANSWER

Land Use and Planning Law Attorney serving Sacramento, CA
1 Award
If there no agreement between the co-tenants, then you can file a partition action which will involve a sale of the property and distribution of the proceeds.  Your situation appears to be someone unusual due to the statement that you built a home on the property, presumably with your funds. You should have an equitable claim to the value of the improvements.    
Answered on Nov 14th, 2016 at 8:34 AM

This response should not be construed to be formal legal advice by Abbott & Kindermann, LLP, or the formation of a lawyer/client relationship.

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