Legal Question in Real Estate Law in Maryland

Sale in Lieu of Partition.

I own a property with my friend. My name is only on the loan but both names are on the DEED. I told him that I did not need the porperty anymore because he has messed up my credit by not not paying the mortgage but he refused to let me out of the loan by not signing the listing agreement, in order for us to sell the house. Should I do Sale in Lieu of Partition?


Asked on 3/08/11, 8:50 am

1 Answer from Attorneys
Phillip M. Cook Cook Legal Services, LLC

There is no such thing as a Sale in Lieu of Partition. There is something, however, called a Partition. When people are in your shoes, they go to the Court and ask that the property be "partitioned" amongst all the owners. This results in a court order ORDERING the property be sold and the proceeds divided. You should absolutely consult a Maryland real estate attorney before you go this road.

Best of luck.*****The above is for informational purposes only and does not create an attorney-client privilege.*******

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Answered on 3/08/11, 8:57 am


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