Legal Question in Real Estate Law in Wisconsin
If two people own a property and one wants to sell and other doesn't, what happens?
1 Answer from Attorneys
In Wisconsin, if multiple owners of real estate cannot agree whether or not to sell, a judge can make that decision for both of them, so long as either of them brings a lawsuit requesting "partition." Although the person wanting partition will need to pay the legal fees and expenses of the lawsuit, he can ask the judge to reimburse some of those expenses out of the sale proceeds. Of course, if there is not enough equity in the property to pay for this, it may not be worthwhile. In that event, the lender usually solves the problem by foreclosing the mortgage if the payments are not being received. If any of the owners is in bankruptcy, the bankruptcy court has inherent ability to sell property which is partially owned by anyone who is a debtor under the jurisdiction of that court, although notice and opportunity for a hearing must be provided to all creditors before the bankruptcy can conduct such a sale. My comments here are not legal advice, nor do they create an attorney client relationship between us. However, you are welcome to contact my office in Racine to discuss any additional questions which you may have or to set up a free consultation.