Legal Question in Real Estate Law in Minnesota

I co-inhabit a home in MN. We have owned the house for 15 years and both of our names are on the mortgage. She recently has purchased her own house and plans to move out of our co-owned house but she wants a very large payoff to do so. We agreed to bring a Realtor in to get us a current market analysis then determine if I wanted to see or keep, also what amount of the equity she would be entitled to. The CMA came in much lower than she was expecting and now refuses to "sell" her half unless she is paid the dollar amount she expects. Her dollar amount is much greater that the total equity in the house is. NDCS will not participate in arbitration. What options do I have? She refuses to leave the home till she is paid.


Asked on 9/16/15, 10:51 am

1 Answer from Attorneys
Morgan Kavanaugh Wilkerson & Hegna, PLLP

You can bring a partition action pursuant to Minn. Stat. 558.01. A court would then determine if the property should be sold and how the proceeds would be split. In a lot of cases, the parties settle outside of court due to the expense and delay of that process. Please call me at 952-897-1707 if you would like to meet to discuss the process further. -Morgan Kavanaugh

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Answered on 9/16/15, 11:04 am


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