Legal Question in Real Estate Law in New Jersey

Re: Partition sale of real estate property

You absolutely, positively need a lawyer to step in, look over the documents, give you some advice, and then PUSH these people to do the right thing. If they do not, you file a lawsuit to force the property to be sold, and force them to explain where all the income (tenant's rent and any other income) has gone. You don't file suit until you have pushed hard to get it done without a lawsuit. Lawsuits are nasty and expensive. However, if they will not act fairly, then you take action.

You may be surprised. A nasty letter from a lawyer and a phone call or two might convince them to do what they should.

And NO, do not sign any document that you do not have a complete copy of.

Get a lawyer.

I would be happy to help you. I am right across the street from the courthouse in Bergen County, and I appear in court in many counties in northern New Jersey. If you would like, give me a call; I am in northern New Jersey. I will be happy to discuss this with you; the telephone consultation will be free.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

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Re: Partition sale of real estate property

You will probably have to start a suit for partition, with the ultimate either being an Order compelling the sale, or having the property appraised and compelling the others to buy you out. I do not know what this will cost, as it depends upon how much may ultimately be involved in the litigation, but be prepared to spend several thousand dollars if the others contest. You are responsible for your own fees, although if the others are found to have acted improperly, the Court may have the discretion to award you fee reimbursement. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

Re: Partition sale of real estate property

You should have an experienced real estate lawyer who is familiar with and has done partition actions, legal proceedings to force other co-owners to buy your interest or to sell the entire property and split up the net proceeds.

Going straight to litigation is the expensive route, but with an attorney representing you, it may be possible to negotiate a resolution whereby the other owners buy your interest in the property and you deed your interest to them, or where all 3 of you agree in writing (important, because otherwise you have no power to enforce your rights) to list and sell the property and how the proceeds will be divided.

If you can resolve this without litigation, there will be more proceeds to split. If litigation and a court-ordered sale are necessary, most of the proceeds will go to the costs of litigation, including attorney fees and court costs.