Legal Question in Real Estate Law in Massachusetts

These are excellent questions. You really have a number of options.

If you and your sister want to continue to own the property together but share a common concern about the property being subject to division in the case of divorce, you may want to have your sister consider a prenuptial agreement.

If you and your sister wanted to sell the property and split the proceeds, you can certainly do that. I recommend hiring an attorney to assist you and to deal with issues or disagreements over how profits and losses are to be allocated between you.

If you and your sister both agree that only one of you should own the property, either one of you can buy out the ownership interest of the other. You will need to refinance the property in order to properly transfer the property and relieve the selling owner of his or her responsibility for the loan.

If there is no agreement, you can file a petition for partition with the court. In a partition, one owner is asking the court for an order directing the sale of the house, and a fair division of proceeds.

Feel free to give our office a call at 617-357-4898 if you want to brainstorm options and potential outcomes.