Legal Question in Wills and Trusts in Louisiana
I have four siblings and we have our parents house for sale, all five of us own the home, if an offer is made do all parties have to be in agreement to sell? Or can majority rule?
2 Answers from Attorneys
Assuming you have legal possession of the property (in other words, a Judgment of Possession issued by the Court), you are likely all co-owners in idivsion. As such, you need 100% agreement of ALL owners to do anything (sell, rent, whatever). If 100% do not agree, the only other option is to file a Petition to Partition the property with the district court. The Court can then force a sale. That is the only way to do it absent complete agreement.
You said the 5 of you own it. If 1 does not want to sell it for the price offered, then you will have to get court permission to sell it at that price. If the disagreeable heir is being unreasonable, the court could agree to the sale at the heir's costs. Basically, even if 9 out of 10 agree to sell, it must be presented to the court for the final decision.