Legal Question in Real Estate Law in Massachusetts
2 sisters inheiret property in Mass. 1 wants to sell 1 does not. no mortgage involved. What's the options?
2 Answers from Attorneys
Thank you for your question.
This is a common situation, and you do have options.
People will not be made to own property together. Your easiest option is to sell the property and fairly divide the proceeds. Your next option would be to reach a deal for one co-owner to buy out the interest of the other co-owner.
If the parties simply cannot agree on a path forward, either owner may file a partition action in the Probate and Family Court or the Land Court demanding that the property be sold and the proceeds fairly divided.
Sometimes it takes the threat of a partition to move people closer to a deal. Our office handles property disputes, and assists parties in reaching and effectuating property agreements, as well as bringing partition actions, throughout Massachusetts. I would be happy to explain your options to you in greater detail.
Best of luck!
Tel. 617-357-4898
You have three options:
No one sells and things stay as they are.
One sister buys the other sister out on some basis, cash, a note or gets a mortgage. You need to agree upon price.
Last, the sisters agree to sell the property or the sister who wants to sell files a Petition for Partition.
A Petition for Partition is the most expensive to accomplish and gives the parties the least control. The Court will appoint a Commissioner who will sell the property and then take a fee. You will pay for an Commissioner and his attorney if needed.
They also will auction the property as opposed to placing it up for sale through a broker.
Please feel free to contact me if you have more questions