Legal Question in Real Estate Law in Louisiana
Co-Ownership of House
My father died recently leaving my brother and myself his estate consisting of a small amount of money, a car and a house. My brother is 43 but very irresponsible, both financially and personally. My father's wishes are to have all assets divided equally and because he lives in my father's house we would both own it and whenever it's sold we'd both split the profits. Being a financially irresponsible, my brother needs all the cash he can get from my father's estate so simply giving him the house and me taking equivilant cash is not possible.
Basically, is it safe for me to own a house with an irresponsible person? Is there some liability that I could be taking on (financially and legally) due to some negligence on his part?
I could easily see him slowly eroding the quality / value of the house due to lack of maintainence.
2 Answers from Attorneys
Re: Co-Ownership of House
Nick is exactly right. You have an absolute right to either force a sale of the property or partition the property. I can assist you with this process if you are interested. Thanks.
Re: Co-Ownership of House
Unless your father put his "wishes" in a will, then his children inherit all of his property equally. So, 1/2 of everything belongs to each of you. As for the house, each of you own 1/2 of the whole house. Therefore, your brother, or you could incumber the house or trash it etc, to the other's detriment. Since the law does not require anyone to own something with another, I would sell the house. If he won't agree, then file a Petition to Partition the immovable property. He could always buy you out if he wants the house. Simply put, you own 1/2 of the house, but could be held solely responsible for any liability which might attach to the house and property.
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