Legal Question in Real Estate Law in California

Re: Joint Tenancy loan

You can file suit for partition of real property to force the sale/division of your interests in the property. Where one co-owner desires to sell and the other refuses, the court will order the property sold. That said, there is no assurance that either of you will get the price you want, and litigation always costs money; thus, it would be in both of your best interests to arrive at an agreed-upon valuation of the property. Why don't you both agree upon an appraiser in whom you have confidence and agree to abide by his or her valuation? It will save you money in the long run. Note: unless the old loan is paid off,(i.e., the one who keeps the house gets a new loan in their name alone) both of you will remain on the loan obligation.

Re: Joint Tenancy loan

The solution to a situation like yours I always recommend is to have each party make his or her best offer to purchase the other's interest. The best offer takes it, and the "seller" really can't complain because he or she is receiving more than he or she was willing to pay.

Joint tenants can force a sale of the property through court action and, of course, bid at the sale as a purchaser.

Hopefully you won't have to resort to legal action.

Let me know if we can be of further assistance.

Re: Joint Tenancy loan

A Partition action would be filed. The property would be ordered sold and the proceeds divided.