Legal Question in Real Estate Law in Pennsylvania
tenant in common liablility
I am a equal tenant in common owner with a non-spouse family member for a parcel of land with buildings. We came to own this property through our parent's estate. There is currently no liens on the property. The other tenant is liable for significant sums of money to various creditors. If the other other tenant is sued or is forced to declare bankruptcy, how does this affect my rights to the specified property?
1 Answer from Attorneys
Re: tenant in common liablility
The other owner's creditors could attempt to partition the property in a foreclosure action. This is not easy to do, but it could happen. Otherwise, their liens would only attach to his interest. Your half interest is not lienable by his creditors. In the event of Bankruptcy, his portion of the property would become part of the bankruptcy.