Legal Question in Real Estate Law in Maryland
In Maryland, If I file a sale in lieu of partition for a house I own with others, are the ownership parties allowed to bid on it?
Asked on 5/28/15, 7:42 am
1 Answer from Attorneys
Robert Sher
Wagshal and Sher
Yes. If the court finds merit in your claim, it will appoint a trustee to conduct the sale. The trustee would have the authority to sell the property directly or to list it with a broker. Preliminarily, the trustee will hire a professional appraiseer. Of course, in either case it will be the duty of the trustee to get the best price since they have to account to the court. The expenses, including trustee's fee, will be paid out of the sales proceeds.
Answered on 5/29/15, 7:11 am
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