If I am the 60% owner of a property, how do I get the rest of my sibling to sell their portion to me?

Question

Douglas Bryan · Answer

If they refuse to agree then you would need to file a Petition to Partition the property.  Give me a call; I'd be happy to help you with it.

Georges Shers · Answer

Offer them a purchase price greater than their share is currently worth. You can not force them to sell to you. If you file a partition action, aside from costing you perhaps $15,000 in attorney fees, the property would most likely be sold and you would get 60% of the sales price, after expenses.

Edwin K. Niles · Answer

There is a particular kind of lawsuit called a partition action, in which the judge has the power to order a sale.

Nathan Wagner · Answer

The best way is to negotiate with them until they are willing to sell their portion to you. The more expensive and risky way is to start a partition action in court. The court would order the real estate to be sold at auction, where you could bid for the property. If you win the auction, you will have bought 100% of the property. If someone else wins, you will own 0%.

Brian Haggerty · Answer

Negotiate. If they refuse, you'll have to bring an action for partition, which will be expensive and most likely result in the property being listed for sale on the open market. So, negotiate.

Frances Headley · Answer

Any property co-owner can bring an action for partition to divide up the property between the co-owners.  Property is generally sold rather than divided up physically.    You should consult a real estate attorney to review all of the facts and determine how best for you to proceed.

John Morris · Answer

Ask nicely first and offer to pay the value established by a neutral appraiser. If that does not work bring a petition for partition, an accounting and for a court order to list and sell the property. You may then purchase it using a new loan at arms length and then pay down the loan when you are paid out of escrow. If the bids are too high for you to afford that house take your money and find a house you can afford.

Patrick Currin · Answer

There is a time consuming and expensive legal process called partition, but the best option is to get an appraisal or BPO so your siblings know they are getting a good option.

Randall Romei · Answer

A partition action can force the sale of real property.  The court will evaluate if the property can be divided in kind.  Most real property is unique and cannot be divided in kind.  If the property cannot be divided the court will order the sale of the property and the proceeds will be divided.  The court costs and reasonable attorney fees are paid out of the sale proceeds after court approval.

Richard Keyes · Answer

Talk to an attorney about filing a partition lawsuit.

Steven Fluhr · Answer

Ask them. If they do not agree, you may seek partition in the circuit court. You may purchase the property when it is put up for sale, unless you are outbid.

Bernard H. Greenberg · Answer

You cannot force them to sell to you. You may want to confer with an attorney specializing in real estate about a partition of the property.

James Frederick · Answer

They need to agree to do so. Otherwise, you would need to petition a court to partition the property. That would force your sibling to either buy you out, be bought out by you, or to sell the property and divide the proceeds.

Jeffrey Gottlieb · Answer

Probably by making a reasonable offer and asking nicely.

Dara J. Goldsmith · Answer

Unless they agree, you would need to sue them in a quiet tile action. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.

Victor Waid · Answer

You may have to file a petition to partition which will force a sale at auction of the property.

Christine James · Answer

Ask.  If they will not, you will need to file a partition action.  Just know if you do, and one of them wants it more than you, they can be the highest bidder and buy you out.

James Weiner · Answer

First it is unlikely you can force your sibling(s) to sell anything they own to you if they does not want to sell their interest. In Michigan if you own it as "joint tenants with right of survivorship" you cannot do much without their agreement.   If you own it as "tenants in common" you can file a lawsuit to "partition" the property so your portion can be sold.  This can be expensive so they may be forced to sell if they cannot afford to continue to defend your lawsuit, etc.

Mark T. Peters · Answer

Offer them an amount they will accept.  Barring that, file for partition of the property and the court will order a sale, perhaps even an auction.  If you are the high bidder, then you can pay them that amount.

James Maguire · Answer

You can't force them to sell to you, but as a co-owner you can force a   public sale of the property.

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If I am the 60% owner of a property, how do I get the rest of my sibling to sell their portion to me?

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