Legal Question in Real Estate Law in California
Hi,
My dad expired. In his will, my brother and I are deeded equally two different properties of his. My brother and I have very different priorities. He wants to liquidate; I want to retain a property that's been in our family for over thirty years. We live in California and both of the properties are in California. What are my legal rights and can my brother sell this without my permission? Thanks
Jennifer
2 Answers from Attorneys
Your brother cannot sell the entirety of either property. In theory, he could sell his half interest, but unless he's a fool, he won't do that, because there is no realistic market for half interests in most real estate.
When co-owners of real property are unhappy with that arrangement and want to terminate it, the usual legal remedy is a lawsuit for partition, which basically asks the court to order a sale of the property and division of the need proceeds equitably among the former owners. There are few defenses to such a suit, so as a practical matter the co-owner that would like to keep the property is forced to buy out the other owner or be the high bidder when the partition sale takes place.
Step one here is to get the probate or living trust administration process done, then, get a good appraisal of gross and net (after paying liens and commissions) market value, then perhaps, take a deep breath and re-negotiate with brother, with market and legal costs issues well understood by both.
If nothing can be worked out (swaps, buy-outs, etc.) then brace yourself for a likely suit to oblige a sale and split of the money. That's probably your brother's legal right.
I would need to see the will, or see the probate documents, and possibly the deed to determine how the property is held. You and your brother might hold the property as joint tenancy, tenancy in common, or other way - which may affect your rights. Generally, he can liquidate, and you should make sure you get your fair share.
Best,
Daniel Bakondi, Esq.
415-450-0424
The Law Office of Daniel Bakondi
870 Market Street, Suite 1161
San Francisco CA 94102
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