New Jersey  |  Real Estate Law

Legal Question

Asked on: 9/03/13, 5:21 am

"I own a property in ocean city with 7 siblings (condo left to us after our parents passed away.) I am asking to be bought out. It is my understanding that there is a 'penalty' applied to the value of share, Anywhere from 0 to 35%. Is that true? And, help me understand the reasoning behind it?

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