Legal Question in Real Estate Law in Minnesota

Hello, here is my question/scenario.

I am part of a 3 way ownership of a cabin on a lake in Minnesota. We were given the cabin when my father died. The only money the 3 of us have paid is the yearly taxes and minor upkeep. If one of us decides that they do not want ownership anymore can that person force a sale of the property or can they force the other two to buy them out? So for example is the cabin in valued at $300K and brother number one does not want ownership anymore do brother number 2 and 3 have to pay him $100K or can he make us put it up for sale so he can get his money?

Thanks

Jeremy


Asked on 6/27/10, 7:38 am

1 Answer from Attorneys
Daniel Reiff Reiff Law Office

Jeremy

I would need more facts to answer your question. I know you think you've given us everything there is to know, but there is more. How is the property titled? Are you joint tenants, tenants in common, co-trustees or beneficiaries of a trust, members of an FLP? Did this come from a will that gave you less than fee simple absolute? You'll almost certainly need to retain an attorney to give you some advice on this. It will likely only be a few hundred dollars and might be worth the investment.

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Answered on 6/27/10, 1:30 pm


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