Legal Question in Real Estate Law in New Jersey
joint ownership of house
Prior to my mother's death , she deeded her house over to my sister and I. It has been more than 1 1/2 years since her death. I have always wanted to sell the house but my sister didn't want to. We did put the house up for sale , but the real estate market has dropped during this time. The house has been on the market for 6 months now , and I've tried to get my sister to lower the asking price but she's refused. My wife and I have done somwe repairs on the house to make it more attractive to potential buyers , but my sister has done nothing to help us. She also doesn't want to buy out my share , but now is talking about renting the house to someone. I don't want to rent it out , I just want it sold. My sister and I were never close before this , but now are barely speaking at all. Is there anything I can do legally to either force my sister to accept an offer on the house or buy out my share?
2 Answers from Attorneys
Re: joint ownership of house
I agree with John that the only action is a suit for partition. While your sister is correct that house values have fallen recently, and the winter is thye worst time to sell, by the time thew suit reaches a conclusion, the market mkay be better. Do not forget to put in a claim for any expenses you advanced for repairs. If you did them yourself, you cannot charge for labor.
Re: joint ownership of house
The most straightforward way is to petition the court for a partition. If successful, that would mean that either the property would have to be sold or your sister would have to buy you out. The problem is that, except for the price of the house, it is not much different than what you have now. Perhaps if your lawyer wrote to your sister and asserted your willingness to file an action for partition unless the asking price of the house is lowered, the problem might be a little easier to solve.
Call if I can be of help.
See also: http://info.corbettlaw.net/lawguru.htm
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