Legal Question in Real Estate Law in Pennsylvania

If a property is owned by four people, and two of them want to sell the property but the other two do not, how can the situation be resolved

Asked on 9/05/11, 6:14 pm

1 Answer from Attorneys

Miriam Jacobson Law Offices of Miriam N. Jacobson
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They have to sue for a "partition" of the property. This usually results in a court-ordered sale, which involves (a) the costs of the law suit; (b) the Realtor's commission; (c) all other expenses of the sale, including paying mortgages and other liens. By the time all of those costs are factored in, there may be little or nothing left to divide. It's in everyone's best interest to work out a settlement among the owners.

Another alternative is for the ones who don't want to sell to buy out the interest of the other owners. Unless there is a partnership or co-owners' agreement that spells out how the property will be evaluated for a buy-out, they will have to engage the services of appraisers. Again, this will cost everyone for the appraiser's fee and any recording fees and transfer tax.

These are not DIY options, but require the involvement of professionals - lawyers, appraisers, Realtors. Get representation by a lawyer first, to guide you through the process.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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9/05/11, 8:17 pm

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