Legal Question in Real Estate Law in California

Real Estate

Want to remove a 1/6 owner from a deed on a farm. THere are 4 owners, 50%, and the other 3 are 1/6. All except the one we want to remove agrees. The property is worth about $55,000 and located in OK. All owners are in CA except one in CO. My assumption is the one removed will want to be compensated at 1/6 prperty value, which is more than a 1/6 ownership. We are willing to pay for the ownership, but not the property value. Thanks


Asked on 7/14/08, 1:13 pm

3 Answers from Attorneys
Judith Deming Deming & Associates

Re: Real Estate

This will be governed by Oklahoma law, not California, so the procedure may differ; however, absent an agreement with the 1/6 owner, in California you would have to sue for a partition of real property interests because you cannot unilaterally "remove" a person from title.

Read more
Answered on 7/15/08, 12:13 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Real Estate

There are two problems with your request.

First, if the property is in Oklahoma, I think Oklahoma law is very likely to apply and that OK would also be the proper jurisdiction for any legal action, such as partition.

Second, I have a hard time seeing how there could be a distinction between "property value," on the one hand, and "ownership" on the other. I could probably concoct some scenarios under which this would occur and be legally meaningful, but nothing pops into mind as an obvious reason for this distinction. Absent additional facts, property value and ownership value would be the same. Maybe the difference is due to including some kind of lien or assessment in one reckoning, but basing the other on 100% fee title, free and clear. Or, you are just saying that anyone who has a fractional interest in land would get less than his fraction in market value because the pieces are worth less than the whole to buyers.

Due to the relatively low value under either means of calculation, going to court to force a partition by sale will be expensive in proportion to the amount you'd need to pay, and I suspect the remaining owners, especially if they want to keep the land, are best advised to negotiate the best deal they can, out of court.

Read more
Answered on 7/14/08, 4:06 pm
Mitchell Roth MW Roth, Professional Law Corporation

Re: Real Estate

I don't know what you mean. If you buy him out the correct amount is 1/6 of the value of the prooperty.

Read more
Answered on 7/15/08, 10:05 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California