Legal Question in Real Estate Law in Arizona

my brother and his wife along with me hold title to a property in Arizona. My brother and his wife hold title as "joint tenants with right of survivorship and not as community property estate and not as tenants in common. The house is titled to all three of us. I took a Home Equity line of Credit on the property for $60k (worth of property is $160). The home equity line is in my name. I want to sell the property and pay off the home equity loan ($60k). What rights do I have as title holder to sell this property? The sale would yield just over $60k in equity enough to pay off the loan. The first mortgage is in the name of my brother and not me. The home equity loan was taken out to help my brother with his business but his credit was not good....that is why I took the loan for him and he and his wife added me to the property so I could take out the loan. Now I want out of the loan and want to sell the home for equity. Please help.


Asked on 6/19/12, 11:17 am

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

You cannot sell the property without the consent and cooperation of your co-tenants. If they refuse to work with you to sell the property, then you must take legal action to partition the property and force a sale or force the others to buy your interest. You might also sue your brother for the amount of money you gave to him from the HELOC, and then pay off the loan. It is best if you negotiate a deal with your brother and avoid going to litigation.

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Answered on 6/19/12, 1:28 pm


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