Legal Question in Real Estate Law in Minnesota
Duplex in partnership
My brother/wife & my wife/I own a duplex(50/50 partnership) We want to sell-they don't because they live in the bldg. Am
I correct that we could use partition action to force a sele? By law, how can the selling price be determined so they will agree to it?
1 Answer from Attorneys
Re: Duplex in partnership
Partition is a statutory procedure that is carried out via a lawsuit. A judge orders it sold if the parties cannot agree on a method. May be sold at auction. Because most people understand that auction will not usually bring best price, once parties understand that partition will happen they agree to terms without actually starting partition. When I handle these, I start with a letter to the other party detailing what will happen if the parties do not reach agreement. You can e-mail me if you want to discuss further.
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