Legal Question in Wills and Trusts in California
family won't buy me out of house ownership
My father was a 10% interest of a house as part of an estate that was left to him in a will. He died without a will of his own and I am probating his case. The rest of the shareholders in the house do not want to buy me out. I need cash! What are my options? Can I force them to buy my portion out? They are being vindictive because they never wanted my dad to have this money. Can I petition to force sale of the house? What are my rights as a 10% owner? Thank you so much!
2 Answers from Attorneys
Re: family won't buy me out of house ownership
You can threaten to file a lawsuit for "partition" which would exercise your right to have the place auctioned off. Since an auction sale would cause the house to sell for below market value, a letter from a lawyer ought to get their attention (and have you bought out at fair market value!)
Re: family won't buy me out of house ownership
Yes. You can file an action for partition which will force a sale of the house.
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