Legal Question in Real Estate Law in Maryland
I own 1/3 of a waterfront property in MD. I want to rent out the property. The second owner agrees with me and the third owner doesn't want to rent it out. The third owner is also refusing to pay the grass cutting bill. Can I rent out the house and distribute the funds equally to myself and owner #2. Or...can I rent out the property without the consent of owner #3 and dispurse the money equally 3 ways.
1 Answer from Attorneys
Unfortunately unless you had an agreement among the three of you that allows for the majority to make these kinds of decisions, the uncooperative co-owner can hold you up. Your options are to try to buy the 3rd owner out if you can, or file a suit in court seeking partition and sale of the property. As part of this you would be entitled to recover any expenses you advanced out of proportion to your ownership share. You probably don't want to do either of these things, but perhaps the threat of doing so will bring the 3rd owner around, to where you can negotiate an agreement for how to use the property and for the payment of expenses.
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