Legal Question in Real Estate Law in Maine
My brother and I own property in Maine in common. Its family property that I've lived on for 20 years taking care of our mother till her passing. My son has rented the main house (dad apartment I built for me in separate building with verbal that I own outrite) The land has been split, my bro owning half without any buildings by contract, I again owning the other half by verbal(cause of buildings on property. My son has had the main house appraised and brother has agreed to owner finance but they can't seem to arrive at a common price. ? What are my legal rites as owner if this blows out of the water. I'm at a understanding verbal does not mean much. But being my home does that count for tenancy.
1 Answer from Attorneys
I assume you mean when you state that you own it with your brother in common, you are in fact on the deed together. If that is the case, and your brother and you agree that he really "owns" the undeveloped land, and you "own" the house, then if the lot is legally dividable, you should contact a surveyor to create separate lot descriptions, and contact a lawyer to draw up the deeds to split the property. Until that happens, as you say, the law does not make binding verbal agreements about land. Agreements need to be in writing to be enforceable. Once the land is split, then you can owner finance to your son.
If the land cannot be split, then yes, your brother needs to agree upon a prince for his half of the property. If that cannot happen, the only legal recourse is to file a "Partition" lawsuit for a Judge to orders the property to be sold, and the Judge takes evidence as to how much of the proceeds should go to each of you. The evidence will take into account how much each of you has improved the property paid on taxes, etc.
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