Legal Question in Real Estate Law in Minnesota

partnership in real estate

What can a person do if his partner can't pay his share of the loan, The one who is left paying all the bills can't afford to buy the other out. The property has been for sell about six months but if it does not sell what are the options?


Asked on 3/12/07, 11:25 am

1 Answer from Attorneys
Steven Vatndal Law Office of Steven J. Vatndal

Re: partnership in real estate

If your partner does not agree to sell the property at an available price, and you want to, you can compel a sale through a partition (assuming you hold the property as tenants in common). There are other options depending on what, if any, partnership agreement there is, and other factors. Please e-mail me if you have further questions.

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Answered on 3/12/07, 11:37 am


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