There are 8 siblings on the deed of our parents home. The deed was transferred to us approximately 4 1/2 years ago. Our parents were living in the home, maintaining it and paying the taxes. They have recently moved into an assistant living facility. 7 of the 8 siblings have agreed to sell the house. 1 of the siblings in not cooperating and may not attend the closing. 1 of the siblings and her husband will be buying the home. Can the closing go through if 1 sibling refuses to attend the closing and sign off on the deed? Property is in Madison Wisconsin. 2 of the 8 children are POA's for the parents finances.
1 Answer from Attorneys
If you are correct when you say that all 8 siblings were deeded the property, then no transfer can occur without all 8 signing the deed to the next owner.
There are some solutions, but it would take some time and some money. Wisconsin allows for a "Partition" of co-owned property. If the property can't be divided, it gets sold, and the proceeds divided. There's some risk that it may sell for more to an outsider. Other considerations, as well.
You should consider obtaining local counsel to get decent advise on this. While we are about 40 miles from Madison, we could certainly help out or you could choose to look for someone closer.
We wish you well. If you have further questions, please don't hesitate contacting me.