Legal Question in Business Law in Massachusetts
There is one house with four owners, and one of the names is me. I want to sell off my share, but they won't even talk to me. So, what can I do legally to get my share of the houses value?
3 Answers from Attorneys
Assuming the property is held as tenants in common, you can file a Petition to Partition in the probate court in the county the property is located. If the property cannot be divided easily in 4 equal parts, the court will order its sale. The other 3 owners if they really want to keep the home, should try to buy your interest out.
Otherwise, you have to get a Commissioner Appointed and the property sold.
This is not something you should attempt without an attorney. Please feel free to contact me without obligation.
I agree with Attorney Roth that you may need to bring (or threaten to bring) a petition to partition the property in court. You will be asking the court to order the sale of the property and divide the proceeds. Please feel free to contact my office if you would like to discuss the process or retain counsel.
The other attorneys are right on point here. I think the key is to threaten the partition proceeding. That should get the others motivated to listen and perhaps buy you out. A well-written attorney letter is worth considering. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
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