it is a house, can i sell my share, no one is staying, other owners are not comming forward to settle the issue, by selling my share i want to get rid of my liabilities in property is it possible
2007-06-15 23:59:51 · 5 answers · asked by dhirpateria 3 in Business & Finance ➔ Renting & Real Estate
none of the co-holders want to buy can i sell to third party who is not in relation
2007-06-16 00:10:19 · update #1
You could sell your share, but the odds of finding a buyer outside you 5 will be hard.
2007-06-16 04:07:10 · answer #1 · answered by frankie b 5 · 1⤊ 0⤋
technically yes, reality you Will not find a buyer for only a 1/5 unless it is a fire sell,
why would a third party buy into a 1/5 with your relatives? way to many problems
2007-06-16 08:45:46 · answer #2 · answered by goz1111 7 · 1⤊ 0⤋
If the other four owners of the property are willing to buy you out, you can sell your ownership share to one or more of them. If all four are interested in buying you out, it's simple. Each pays you 25% of the value of your ownership share and you are removed from the title/deed. If only one or two want to buy out your share, they would split equally between them the value of your share for payment to you, and you are removed from the deed. In the latter case, however, legal ownership documents would need to be drawn up indicating the percentages of ownership each owner now has, since the ownership shares would no longer be equal.
2007-06-16 07:06:42 · answer #3 · answered by acermill 7 · 1⤊ 0⤋
had same problem had the court sale the property and a third party bought the property court divided the property minus the costs
no problem now be sure to get base cost of property at the time you received it for tax purposes good luck
2007-06-16 09:57:20 · answer #4 · answered by APF 2 · 1⤊ 0⤋
You have several options, but I would speak to the attorney handling the estate (they charge you for every phone call) or to the executor of the will.
2007-06-16 08:14:04 · answer #5 · answered by misty19492000 5 · 1⤊ 0⤋