Legal Question in Real Estate Law in Pennsylvania

Wanting to sell home bought with family

My brother and I purchased a manufactured home together so we and my mother could have a place to live. (She and my father are separated and have been living apart for 5 years.) I am planning on getting married soon and want to get a house with my future wife, so I need to get out of the loan I have with my brother. The home was worth $60,000 when we bought it, it is now worth $120,000 and we have $42,000 left to pay on the loan. My brother and mother feel they should not have to pay me much money for what I put into the house since it is my choice to leave. (My mom's name is not on the loan because she declared bankruptcy before we bought the home and she couldn't have her name on the loan.) So, my question is, how can I get out of the deal (I don't want to be associated with the home or loan anymore) and how can I be sure to get compensated for the money I put into it?


Asked on 6/19/05, 5:29 pm

2 Answers from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Wanting to sell home bought with family

I suggest you consult legal counsel. You only alternative is to force a sale of the property if your brother will not agree. This presents a problem because it effects your mother. The legal action is called an action in partition and is designed for a situation where two owners of real estate can not agree on a sale. The mere threat of such action may prompt an amicable resolution. Gerald Hershenson Esq. 215-579-9390

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Answered on 6/20/05, 5:30 am
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: Wanting to sell home bought with family

You have two options as I see it, first you can try to resolve this matter amicably with your brother and come up with an agreement on your own, and if this doesn't work you can possible begin a procedure to sell the property. My question to you is how is the property held? This can be found on the Deed...Tenancy in Common or Joint Survivorship? Seek out professional assistance on this matter ASAP, family or no family you need to protect your interests especially when there is so much at stake.

Sincerly,

Marc V. Taiani, Esquire

AAAL - Allegheny Attorneys At Law

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Answered on 6/20/05, 10:17 am


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