Legal Question in Real Estate Law in Massachusetts
Co-ownwership sale of house
I am co-owner of a house with my brother. We heve owned the house for approximately 7 years. I want to sell the house or have him buy out my half. He is not interested in either of these options.He resides at the house on the first floor and rents the second floor. My father recently past away and also lived on the first floor with my brother. What are my options and legal rights in this issue?
2 Answers from Attorneys
Re: Co-ownwership sale of house
If you own title as tenants in common you can file a petition to partition and request the court divide your respective interest equitably.
You may wish to retain an attorney to help you with this.
Re: Co-ownwership sale of house
If you want to push the issue, you can file a Petition for Partition with Land Court. This will force the Court either divide the property between you, effectively being a condo arrangement, with you owning one unit and he the other. You can then sell the one unit. Or the Court if it does not believe the property can equitably be divided order it sold.
You could also offer to buy your brother out, but I assume he wont want to do that either.
You should as an equal owner (I assume you each own half) you are entitled to the fair rental income as represents a half-interest and your brother should be bearing half the cost at a minimum as his rent equivalent.
Is your brother financially able to buy you out? If not your choice is to divide the property or petition to sell the property.
Please feel free to contact me without obligation.