Legal Question in Real Estate Law in New Jersey

Re: Forced real estate sales

If people cannot amicably agree on a price, the Court would order it to be sold and the money to be split in accordance with the proportion of ownership. However, if your fiancee is willing to take less, this may be an opportunity to negotiate with one or more of the other owners. Keep in mind that this advice is based purely on the little bit of information that you have given to me. There may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. Since you have not retained an attorney in this case, before you take any further action, you should contact an attorney (either me or someone else) to discuss your matter in more detail. Only then will you be able to rely on the advice. I will be happy to assist you. However, you need to call me at 856-546-8010. If you mention LawGuru, there will be no charge for your first consultation. Good luck! Rob Gleaner

Re: Forced real estate sales

Minority interests cannot usually "force" a sale of the property. However, they might have a right to have their interest evaluated and then force the purchase of their interest, if they can establish some valid reason (e.g., improper activity by the manager). You do not indicate how the property interest is held (corporation, partnership, etc.). Are there any agreements between the holders of interests? If so, what does the agreement say about a dissenting holder. What rights or limitations does the agreement contain, to cover this type of situation. What is the position of the majority holder(s)? What are they considering? Sorry, not enough information to provide a better response. You can call me at ((73)-377-3313 if you want to discuss this.

Walter