Legal Question in Real Estate Law in Maryland
Brother will not buy me out of co-owned property
Over 15 years ago, my brother and I inherited a vacation home from our father. My brother has lived close to the vacation home and has used it extensively. He has paid all the insurance and maintenance. My only real contribution has been to pay half of the property tax bill each year. I have only spent about 45 days visiting the property in the last 15 years. I desire to pull my share of money out of the house. I would prefer that my brother buy me out because he and his family use the house often. I expressed this desire a few years ago, and every time that we talk on the phone since then. How do I force the issue? Is there a legal remedy to make him buy me out, or to sell the house if he is unable to buy me out?
1 Answer from Attorneys
Re: Brother will not buy me out of co-owned property
The legal remedy is a lawsuit for partition and sale of the property. You are asking the court to appoint a trustee to take control of the property and sell it just like any other property. Presumably a realtor would be hired to market the property, and the trustee would probably hire an appraiser to establish a value. As part of the suit, you and your brother could argue over what share each of you is entitled to based on your relative contributions.
As you've probably discerned by now, the legal expenses would take a big bite out of your proceeds, so it would be far better for you and your brother to try and reach an agreement between yourselves. You should write him with a proposal, either suggesting a price or offering to abide by an appraisal or market analysis performed by a realtor knowledgeable of area values. You might point out that the lawsuit route is an option if he won't try and work it out, just to give him some incentive.
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