Legal Question in Real Estate Law in Maryland
Petitioning the Court to Sell Share of Home Ownership
What is the purpose and procedure for petitioning the court to sell a share of a jointly owned home? I am a co-owner with someone else, and I have moved out. The other owner wants to stay, and is delaying the process of refinancing. Where would I start if petitioning the court was the only option for a buyout?
1 Answer from Attorneys
Re: Petitioning the Court to Sell Share of Home Ownership
If you can't reach agreement you petition the Court for a sale in lieu of partition (I assume the property cannot be conveniently physically divided, in which case you would ask for actual partition). The Court orders the property sold, with the proceeds to be divided according to the parties' percentage interests. Either owner, and anyone else, can bid.