Legal Question in Real Estate Law in Maryland
lot partnership
I own 50% of a residential lot.I either
like to sell or buy,but my partner refuses to either buy or sell.I want to end this partnership,please help.
Asked on 8/05/08, 7:31 pm
2 Answers from Attorneys
Lawrence Holzman
Holzman Law Firm, LLC
Re: lot partnership
I have done this for clients many times. Tthe precise method of action wll depend on how things are titled, but ultimately you can force the property to be sold and the proceeds divided.
Answered on 8/06/08, 9:24 am
Daniel Press
Chung & Press, P.C.
Re: lot partnership
Your remedy depends on whether the lot is owned by a true partnership, or as joint tenants or tenants in common. Either way, however, you can have the property sold by the court and the proceeds divided. This is costly and may result in a lower sales price than agreeing to sell, so it would be best to try to agree.
Answered on 8/05/08, 8:19 pm
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