Legal Question in Real Estate Law in New York
Partition Action
My boyfriend & I have split. We built a summer home on a lake worth quite a bit of $$. No Mtg. He will not buy me out at my asking price. If I file a partion action, what will be the likely outcome
2 Answers from Attorneys
Re: Partition Action
Presuming both names are on the eed, the Court will make one of two decisions, depending upon what you ask for and what his defense is: (A) Compel a sale or (B) Order him to buy you out. You do not say if your asking price is arbitrary or if it is supported by comparables from local brokers familiar with properties in the area or an appraisal. You will need this type of information to support the relief you request. I suggest you use a good local real estate attorney familiar with these types of court proceedings to assist you in your action for partition.
Re: Partition Action
The property will be sold....either to you or to a third party for the agreed upon or appraised price pursuant to a court order.
Good Luck
RRG
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