Legal Question in Real Estate Law in Illinois
Re: Partition of Family Farm in Illinois
I own an undivided 6/7th share in of unimproved farm ground in Illinois. Distant relatives own the other 1/7th & were offered fair market value for their share, but refused. Is there any way to keep the land from being auctioned off to someone else if a patition suit is filed?
3 Answers from Attorneys
Not unless they will give you a right of first refusal. You can bid if it goes up for sale.
Is the refusal based on sentiment or price? Since a partition lawsuit could easily cost $10K and take a year or more, you may want to "up" your offer.
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