Legal Question in Real Estate Law in Massachusetts
solutions/petition to partition
i currently own majority share of a home,i live in it with my family,and have been paying all the expenses,other owner wants their share,can not buy them out in full have offered payment options and have got no replies,recently started getting demand letters from lawyers to sell house,do i need a lawyer,can i fight this and stay in the home,cant afford to move and do not want to,allthough i have started sale process,got comps no listing agreement yet i am being pushed to sell on their time limits,basically i want to stay or i need more time before listing,what actions can i take,how long would a petition to partition take start to end,also if it went to court and i singed listing agreement does that end it i do not want someone appointed to sell my home,are there loopholes can i get a lawyer and keep my home forcing other owner to take downpayment and monthly payments till i can qualify for a loan
2 Answers from Attorneys
Re: solutions/petition to partition
I suggest you retain an attorney. If you agree to sell the home, that should end the matter. As to buying the other person out of the home, that is a matter of negotiation.
I assume you cannot qualify for a new mortgage that would allow you to keep the home and buy out the other owner, if you do, you can agree a price contingent on refinancing.
Good Luck.
Re: solutions/petition to partition
Retain an attorney to explore and negotiate any options short of a Petition to Partition. Good Luck!
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