Legal Question in Real Estate Law in California
I have two sisters who own 1/3 of my mothers house each and myself 1/3 after her death.
I sold my share to one of my sisters for a partial payment in advance and received a promissory note from her to pay me the remainder of what is owed me when the house is sold at her time of choosing. I am 62 years old, I have become very ill and do not have a income and am not able to work for the time being, Doctors orders.
I need what she owes me and asked her to sale the house. She does not want to do that in till sometime next year. Can I partition the house due to my health reasons and my needs? When my only interest is the note she owes me money on the house?.
Thank you,
John Wexler
4 Answers from Attorneys
You could initiate a partition action -- but if filing the suit didn't result in your sister caving in and selling right away, and the suit worked its way through the court system, I doubt that you'd get your money much faster, and you'd probably get less net proceeds, due to the costs of suit. Also, suits among family members create hard feelings (although they may already exist here).
Oops, sorry, I just realized that you make it plain that you don't have a present ownership interest ....... therefore, you could not initiate a partition action! My mistake. Your only hope would be to convince the other co-owner to initiate the action. However, I don't recommend partition in your situation because it is slow and costly. Maybe someone would purchase your note? Or would the sister give you an advance part-payment?
Have you considered selling your note?
You apparently sold you ownership interest in the property, and have no more 'say' in what is done with it. You can try to collect on your note, or you can 'factor' or sell your note at a discount to get quick money. First try to get one of the sisters to pay you off, or buy your note, even if at a discount.
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