Legal Question in Real Estate Law in Maryland
I am the co owner of a house which is located on two lots owned by two different owners. The lawyer for the other lot plans to file a sale in lieu of partition. If I renounce ownership in the house will this prevent them from selling my lot at auction.
1 Answer from Attorneys
An attorney cannot realistically answer this question without meeting you and learning more about the specifics of your situation.
Generally speaking, a sale in lieu of partition action forces a sale of the property (which may be at auction or through other channels such as a real estate agent retained by the court-appointed Trustee). It isn't clear what is meant by "renouncing" ownership. Whether one can simply deed away the property will depend on whether there is any outstanding mortgage, etc. and usually this will require the payment of transfer and recordation taxes. Typically this would not in and of itself prevent a partition action or sale - if the ownership changed it would typically just change the person being named in the litigation.
You are strongly encouraged to seek legal advice from a competent attorney of your choosing.