Legal Question in Real Estate Law in Pennsylvania
Owners In Common
What is one partner wants to sell a home that has both names on the deed as owners in common and the other partners does not want to sell? We are not married and both have lived in the dwelling for 25 years, and are seperating. This is a same sex relationship.
2 Answers from Attorneys
Re: Owners In Common
In the event owners to real estate will not agree to sell the property, one of the owners can bring a legal action to force the sale. This action is called "partition". It is very expensive because a Trustee has to be appointed to conduct the sale. Usually a mere threat of a partition action by an attorney representing your interest will force a sale or buyout of the interest. Keep in mind in any sale of a one half interest there will be a two percent transfer tax at a minimum depending on where you live. If I can be of any assistence, please contact me. Gerald Hershenson Esq. 215-579-9390
Re: Owners In Common
In the event owners to real estate will not agree to sell the property, one of the owners can bring a legal action to force the sale. This action is called "partition". It is very expensive because a Trustte has to be appointed to conduct the sale. Usually a mere threat of a partition action by an attorney representing your interest will force a sale or buyout of the interest. Keep in mind in any sale of a one half interest there will be a two percent transfer tax at a minimum depending on where you live. If I can be of any assistence, please contact me. Gerald Hershenson Esq. 215-579-9390
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