If someone was left half of the property with a general warranty deed, and the other half was left to 5 others, which I also have an interest, so I was left 1/2 plus 1/5th. Which way would a judge order to sell?" Can I keep 1/2 or will he order all to sell? I also have had apprasials both halfs equal same dollar amounth, also built my house on one of the halfs. Father inlaw died.
2007-03-20 12:05:44 · 3 answers · asked by mycus2000 2 in Politics & Government ➔ Law & Ethics
As another answer indicated, it would depend upon whether or not the property has been split, or was eligible to be split. If it was, you could split the property, sell the one half that your home isn't on, and split the proceeds with the other owners. However if the property can not be split, then you may have to either sell, or buy out the other 4 owners. As you own 60% of the parcel, you would probably be considered to have the controlling interest.
2007-03-20 12:19:59 · answer #1 · answered by Sailinlove 4 · 0⤊ 0⤋
It might depends on the size of the property and if large enough Partitioning could be applied. However, what you have in fee is a total of 60% and the other fee interest being 40% and the judge can order for it all to be sold, or provide you with the opportunity to buy out the others, or if the acreage is large, say 100 acreage and the house is built on one of the 50 acre pieces, the judge could partition it in two separate parcels you owning one 50 acres piece 100%, and then you would own a 20% interest in the other land wherein the same options could apply with the exception of partitioning!
2007-03-20 12:21:11 · answer #2 · answered by Anonymous · 1⤊ 0⤋
As long as the county will allow the land to be split into different parcels (or it may already be), then they can be sold separately. If it cannot be split into separate parcels, than the property is sold as a whole.
2007-03-20 12:11:03 · answer #3 · answered by Chris J 6 · 0⤊ 0⤋