Legal Question in Real Estate Law in Massachusetts

Re: real estate

Both other responses are correct, but are missing information. You have the right to bring an action for partition, but the Court usually offers one of two alternatives: (A) if appropriate appraisals are provided, it can allow the other owner to buy your share for your proportionate value provided by the appraisal, or (B) can order the house to be sold. In this real estate market, appraised values might not be the value you would actually get in a sale, especially if the buyer knows this is a court-ordered sale and is not being done voluntarily.

Re: real estate

You can force the sale of a property by filing a petition for partition. Assuming you and your husband own 1/2 and your sister owns half, you would each be entitled to 1/2 the net proceeds of the sale absent reasons to provide a different allocation.

If your sister wants to or is able to buy you out, I generally recommend you reduce the price by the cost of a real estate commission as applied to your equity in the home.

Please feel free to contact me if you are in need of assistance.

Re: real estate

Yes of course this can be done.

You need to get an appraissal of the property so you know it's value and then, depending on how title is held, either they (someone else)pay you 1/3 of the value or 1/4.

Re: real estate

If you and your sister in law cannot agree on a price, you would have to commence a partition action.

A partition action is where real property that cannot be divided is sold by the Court and the net proceeds are divided by ownership interest.

Mike.