As an heir I was left some land by a dead relative. There is a list of heirs. Can I sell my portion of the ''Undivided Community Property'' How can I profit from what I was left? Exactly what can I even do with this property?
1 Answer from Attorneys
Re: undivided property
You need to speak with an attorney because this sort of thing can get complicated. However, let's take an example and assume you have inherited an undivided 10% of 10 acres. That means you own 10% of all 10 acres, not 100% of 1 acre. You could sell your 10% but I doubt if anyone but another heir would want it, and you could not expect to get very much. You could suggest to all the heirs to sell the 10 acres and you take your 10% after expenses. This would probably net you the most, especially if you find a buyer. The law does not require you to own property in indivision. Therefore, you can Petition the Court to Partition the Property in one of three ways. You can ask for the Court to divide the property in kind and designate 1 acre as yours. Then you could sell that acre. Depending on where the land is located, this might net you some money, but you must take into account the court costs and survey fees. Lastly, if you have a party who wants all 10 acres, you can ask the court to sell the property to the party making a binding offer, or you can ask the court to sell the property at sheriff's sale, with or without benefit of appraisal. Sheriff sale means anyone can bid on the property, and this is where buyers look for bargains. Basically, the above is what can be done in the example I am using. That is why you need to sit down with a lawyer so he will know the details of your situation.