When a piece of property is owned by more than one person, it can make selling it extremely difficult to do if both parties are not on board. Take two siblings who just inherited their parents’ home. While one may wish to keep the home as it has been in the family for years, the other may wish to sell it and collect their share of the profits. In an instance like this where there are differing views, it is best to bring Orlando, FL real estate lawyer on board who can help explore the options that are available to you.
Potential Solutions to Selling a Jointly Owned Property
Before assuming you need to turn to the courts for help, you might consider working with the other party to reach some sort of agreement. For example, if the other party is adamant about not selling the home, perhaps they might wish to buy out your share so that you are still able to collect a check and they are able to keep the property. If this isn’t an option, you can request that an Orlando, FL real estate lawyer intervene and help you and the other party reach an agreement that results in the property being sold.
In the event you and the other party cannot come to terms as to what should be done with the property, the next option might be to file what is called a partition lawsuit. The term “partition” is defined as “a court-ordered sale or physical division of property, usually real estate, that’s owned by more than one person as tenants in common or joint tenancy.” The definition adds that “any co-owner has the right to demand a partition.”
When you file a lawsuit for partition, you are merely asking that the courts force the sale. Will the court always rule in favor of the individual who filed for the partition? Not exactly. Therefore, if you wish to increase your chances of having a judge side with you, you should consider retaining a real estate attorney in Orlando, FL who can help you build your case and present it before the court.
Ready to sell your jointly owned property in Orlando, FL?
If you would like to discuss filing a lawsuit for partition or learn more about how an attorney can help you sell your jointly owned property without having to go to court, contact Legal Counsel P.A. today. The lawyers at Legal Counsel P.A. can discuss your legal rights with you as well as what steps you will need to take to bring you one step closer to selling your property.
Legal Counsel P.A. has an office in Orlando which is located at:
189 S. Orange Avenue, Ste. 1800
Orlando, FL 32801
Email: [email protected]