New York | Real Estate Law
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?
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2 Answers
Answered on: 2/06/12, 1:35 pm by Walter LeVineNeither 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. Did you find this answer helpful?0 Users found this answer helpful. 0 Attorneys agree with this answer. Walter D. LeVine, Esq. 23 Vreeland Road #102 Florham Park, NJ 07932 ► Other answers from this attorneyShare This On:
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Answered on: 2/06/12, 2:01 pm by David SlaterSince his offer is unconditional,i vote for your brother. Did you find this answer helpful?0 Users found this answer helpful. 0 Attorneys agree with this answer. David P. Slater, Esq. 5154 Windsor Parke Dr. Boca Raton, FL 33496 ► Other answers from this attorneyShare This On:
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