Legal Question in Real Estate Law in Massachusetts

Joint owners- one wants to sell & other doesn't?

My parents left my sister and I their 600,000 home through a life estate. (parents are now deceased). I want to sell the house and slit the cash with my sister. She does not want to sell it and wants to keep it. She does not half enough money to buy my share? What can we do?


Asked on 7/22/05, 12:41 pm

2 Answers from Attorneys

Re: Joint owners- one wants to sell & other doesn't?

Assuming the property is not held in a trust but is now in your name and your sister's name, you are now owners of the property as Tenants in Common. You can file a Petition to Partition the property to require the sale of the property, unless it is divisable in some way.

Or you and your sister could agree on a price for her to buy you out. She could agree to lease the property and pay you rent, half the net rent after paying trhe Mortgage if there is one and insurance and condo fees.

A good point to start is why your sister wants to keep it? If she wants to live there that is one thing. If she wants to rent it out as an investment is another.

In determing the sale price start with a price and subtract 5% for Brokerage Fees. After that it is an issue financing or another agreement between you.

Good Luck. If you have additional questions, please feel free to contact me.

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Answered on 7/22/05, 1:03 pm
Joseph Murray Joseph M. Murray, Esq.

Re: Joint owners- one wants to sell & other doesn't?

If you and your sister really can't agree AND if you hold title as tenants in common and not as joint tenants as you described it, you can file a petition to partition and force a sale of the property. Good Luck!

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Answered on 7/22/05, 1:19 pm


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