Legal Question in Real Estate Law in California
My sister and I inherited a 1/8th (each) interest in real property in California that is managed by someone who owns the balance of the interest in the property. It yields a modest amount of cash each year and is free and clear of liens. My circumstance dictates that I generate cash from this investment or I have to sell my house. My sister and the other owner do not want to sell or re-finance. Is it possible to cause a partition and sale under these circumstances?
3 Answers from Attorneys
Yes, you can file a complaint for partition and an accounting. The end result is the court will order that the property be sold. Many times the cases are settled instead and one party buys out the other and keeps the property. It sounds like that could happen in your case since you own only 1/8th.
If filed for partition, the other owners will likely offer to buy your share. Contact me directlty.
Any owner can sue to force a sale or buy out of their interest, subject to whatever documents control the transaction. If the land is the SoCal area, that is where the suit has to be filed. If so, and if serious about getting legal assistance, feel free to contact me.
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