QUESTION
Should I inform my sister if I plan to sell my half share of property?
Asked on Feb 28th, 2014 on Estate Planning - Oregon
More details to this question:
I am the legal heir of a condo as my mother died without a will. The succession certificate states we are the only survivors. I own half share and my sister owns the other half. Can I sell my half share without informing her about the transaction to another third party. Am I legally bound to inform her through a lawyers notice? She does not talk to me anymore.
14 ANSWERS
If you can find someone to purchase your half interest, you can sell it. As a matter of common courtesy, however, I suggest that you offer it to your sister first. It would actually be more valuable to her than to a third party, and reaching out to her might help in restoring family relations.
Answered on Apr 02nd, 2014 at 7:03 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Suggest you obtain the services of a probate attorney to advise you as the document you refer may have restrictions on sale of partial interest.
Answered on Mar 04th, 2014 at 9:06 PM
Thomas Edward Gates
You will need to inform her. without her consent you will not be able to sell your half. A bank will not finance 1/2 condo.
Answered on Mar 04th, 2014 at 9:05 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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No, you are not legally required to inform her. You are kind of setting up your purchaser for a world of problems, however. You may have a great deal of difficulty finding someone willing to purchase your share, under these circumstances, as well. Depending on the wording of the deed, whatever share you "sell" may evaporate, if you pass, before your sister. Someone would need to review your deed, to be sure.
Answered on Mar 04th, 2014 at 9:04 PM
Edwin K. Niles
What good faith buyer wants to buy a half interest? If you wish to sell, and sis doesn't agree, you can file a partition action.
Answered on Mar 04th, 2014 at 9:04 PM
Probate Attorney serving Palatine, IL
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Law Offices of Robert H. Glorch
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Are you suggesting that the buyer is only going to buy your half of the property and not the entire property and that buyer then become co-owner with your sister? If that's the actual transaction then you might be able to do it, but it's hard to imagine someone would enter into such an arrangement. If you're talking about selling the entire property to a buyer, including your half, then you won't be able to accomplish that without her signature or a court-ordered partition.
Answered on Mar 04th, 2014 at 9:03 PM
3 Awards
You should, are you required? Maybe not. Honestly, you are doing a disservice to the person you are selling the other TIC interest to.
Answered on Mar 04th, 2014 at 9:03 PM
Yes, you need to let her know. It is unlikely that you can sell your share without it impacting her or her enjoyment of the condo. She might be willing to buy your share or she may be willing to sell her share too, in which case you would split the profit from the sale.
Answered on Mar 04th, 2014 at 9:02 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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I don't see why. It is your interest you are selling, not hers.
Answered on Mar 04th, 2014 at 8:55 PM
You will need her cooperation as she must sign the deed to the third party unless you are only selling your half of a Tenants in Common interest. Even then, I would doubt anyone would willingly buy into a 50% ownership with a stranger.
Answered on Mar 04th, 2014 at 8:50 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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You can sell your half without notifying her.
Answered on Mar 04th, 2014 at 8:49 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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You are able to sell your ownership interest in property. You must know that as the owner of a partial interest you cannot guarantee exclusive use and enjoyment of the real estate you are selling. This will necessarily reduce the value. You need not advise the other owner of the sale, however, if there is a cost and income sharing arrangement you must advise the other owner of the new participant being assigned an interest in the joint arrangement.
Answered on Mar 04th, 2014 at 8:48 PM
2 Awards
You can sell your 1/2 if someone will buy it. You need to give notice but she does not have to agree. You really should offer your 1/2 to her first.
Answered on Mar 04th, 2014 at 8:46 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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"Succession certificate?" Is the condo in Oregon? You're in the Oregon section of this website.
Answered on Mar 04th, 2014 at 8:45 PM