Legal Question in Real Estate Law in Maine

I own property with my brother who has paid nothing toward the bills in about three years. I had to move from Maine to Florida to protect my daughter when he broke a protection order. He has refused to buy my part of the property, and he stated he will not agree to a short sale. What can I do? Can I force a short sale from florida?

Asked on 8/09/13, 12:48 pm

1 Answer from Attorneys

Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Your legal option if thee is equity in the property is to file a Complaint in the Court seeking a "partition" of the property. The Court will require mediation, and there will need to be an appraisal, but ultimately if there is still no agreement The Court can order the property to be sold and the proceeds split as the Judge orders.

As you mention a "short sale", if there is no equity, and no agreement between you and the co-owner, you can contact your lender and try to offer your interest in the property in lieu of a foreclosure against just you, but, the lender is not likely to accept and you will be forced into a foreclosure.

Read more
Answered on 8/09/13, 1:09 pm

Related Questions & Answers

More Real Estate and Real Property questions and answers in Maine