Legal Question in Real Estate Law in Alabama
land sale
My Grandfather bought around 200 acres of land with 2 other men many years ago. My grandfather died and left his share to his grandchildren. One of the other men who originally bought the land has bought out all of my cousins. Me and my sister are the only 2 remaining who have not sold by quick claim deed which is what he is wanting us to do. Do I have to sell to him? and if I do not what will happen? I do know that I can retain my mineral rights, but I feel that he is going to turn around and sell this property for a substantial profit simply by where is is located. Do I have the right to stipulate that I want some of the profit off the land if I do sign some paper to him? Or can he force me to sell out to him even if I do not want to?
1 Answer from Attorneys
Re: land sale
You don't have to sell the property if you don't want to. The only way the man can force you to sell is if he brings an action for division or partition of the property and the court orders the sale. If that were to happen, then the court would require that you be given your pro rata share of any sales proceeds. The downside to this, for you, is that the man could buy the property at the court sale for appraised value, then turn around and sell it to whomever he wanted to.
Have you talked to the gentleman about your joining him in selling the property to the third party who may be going to buy it from him? If you are the remaining holdout standing between him and selling the whole parcel to someone else, he might be willing to do that. Before you do anything, you should seek advice from a local attorney who handles property. Good luck!
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