QUESTION
Can the one who doesn't want to sell the land prevent the transaction?
Asked on Aug 20th, 2014 on Estate Planning - Louisiana
More details to this question:
4 joint owners of a piece of land. 3 want to sell, 1 does not.
3 ANSWERS
Divorce Attorney serving New Orleans, LA
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Zitzmann Law, LLC
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No, this is not really possible. Co-owners can demand partition, or a sale, of the property at any time unless there is an agreement otherwise. However, if you personally want to keep the property, you may benefit from a negotiation.
Answered on Aug 25th, 2014 at 11:21 AM
Personal Injury Attorney serving Marksville, LA
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The Bryan Law Firm L.L.C.
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No, if the co-owners can't decide on whether to sell or partition the property, any of the owners can partition the court to partition the property. The judge would have the authority to divide the property up or order that it be sold, either at a private sale or via Sheriff's auction.
Answered on Aug 22nd, 2014 at 3:00 PM
Probate Attorney serving New Orleans, LA
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James G. Maguire
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The ones who want to sell can force a sale through a judicial process called "partition." Not the best way to sell a piece if co-owned property, but sometimes there is no choice.
Answered on Aug 22nd, 2014 at 1:53 PM