New York  |  Real Estate Law

Legal Question

Asked on: 2/06/12, 1:27 pm

My brother and I inherited our father's home (50/50). My husband and I wanted to buy my brother out at 50% of assessed value contingent on selling on selling our current home which we listed two weeks ago.

Now my brother has decided that he wants to buy the house and he has financing lined up that would enable him to close sooner than we can.

In other words, both of us want the house. What now?

2 Answers


Answered on: 2/06/12, 1:35 pm by Walter LeVine

Neither of you has a paramount right to acquire the house. I would hate to see this go to litigation, which could occur if you could not reach some agreement. It is possible, that if it went to litigation, that the Court could either deny either of you the right to acquire it, or commence a bidding war betwen you, or even open it to the public. I suggest you try to work this out to avoid possible costly litigation.


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Walter D. LeVine, Esq. 23 Vreeland Road #102 Florham Park, NJ 07932

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Answered on: 2/06/12, 2:01 pm by David Slater

Since his offer is unconditional,i vote for your brother.


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David P. Slater, Esq. 5154 Windsor Parke Dr. Boca Raton, FL 33496

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