Legal Question in Real Estate Law in Illinois
I want to sell my, one-third, share in a real estate property located in Kankakee County in the state of Illinois. The other two owners do not want to sell. I notified each owner in Sept. 2009 of my intentions to sell and offered each owner an opportunity to buy out my interest. Neither owner wants to sell and has not replied with a buy out. Two weeks ago I sent them a letter, once again, explaining my intentions to sell and an opportunity for each to buy my one-third interest in the property. Neither owner has replied. I live in Illinois, but in the county of St. Clair. Can I file a partition to sell? If so, do I have to file the partition in the county where the property is located? Thank you, Sandy
1 Answer from Attorneys
Illinois law (735 ILCS 5/17‑101) allows for partition of lands held in joint tenancy and in tenancy in common. You don't say exactly how you own the 1/3. Theoretically if you hold your interest as a tenant in common, you should be able to sell outright without consent and without first offering it to the other owners. But since any buyer would not want to walk into a rat's nest (and a minority position to boot), you may have to file a partition action, but note that the 1/3 interest may have far less value than the 3 parts put together? Talk to an attorney -- making rumblings about filing a partition action may just force some settlement that could include a reasonable "partnership" agreement. And please note: I'm not sure what the effect of your having offered the other owners a right of first refusal of sorts may be, however - that's the kind of thing that may help the other 2 prove there was some kind of "oral" partnership that prohibited sale of any partial interest without their consent....and there may be other courses of dealing that add to that....and may require more extensive legal research we can't do here with your finite set of facts - so you are well advised to seek out a lawyer to review what the complete picture is, what you have done, and help you before further actions are taken that could impair your own position!!! Good luck.
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