Legal Question in Real Estate Law in Texas
a small ranch was willed to 7 brothers and sisters, each of whom has their name on the deed. One brother wants to sell his interest to an outsider who has been trying to purchase the land well below market value. Can this brother legally sell his share and what rights will the buyer have when it comes to vetoing a sale?
2 Answers from Attorneys
sad but IMHO buyer has all rights of seller...however, sale can be forced by others...at an expense which may be born by all...
Yes the brother can sell his undivided interest. The buyer will then own his share and can thereafter choose whether or not to sell in the future. If you're concerned, why not buy out the brother who wants to sell at the price the outsider is offering? Then you might consider putting the land in a partnership, with rules governing voting to buy/sell, etc.
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