Legal Question in Real Estate Law in New Jersey

Investment Property

I purchased a house with someone and I would like to get out. My partner won't let me buy him out,does not want to sell, and can't afford to buy me out. How can I separate myself from this person?


Asked on 1/12/07, 10:28 am

2 Answers from Attorneys

Walter LeVine Walter D. LeVine, Esq.

Re: Investment Property

You need to bring a suit for partition. This should require that either side buy out the other or that the property bge sold.

Read more
Answered on 1/12/07, 11:10 am
Robert Gleaner Robert A. Gleaner, P.C.

Re: Investment Property

You will need to file a lawsuit, called a Partition Action. The Court can require that if one of you does not buy out the interest of the other, then it will be sold and the net proceeds split.

Keep in mind that this advice is based purely on the little bit of information that you have given to me. There certainly may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. Since it appears that you have not retained an attorney, you may want to contact a real estate attorney (either me or someone else) to discuss your matter in more detail. Only then will you be able to rely on the advice. If you call me, mention Law Guru and your first one hour consultation will be free. Good luck! Rob Gleaner

Read more
Answered on 1/12/07, 11:32 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey