Video Summary
Can I force my siblings to sell property, which I own with them jointly? The answer is yes, you can. If you have any interest in real property of the possessory interest entries, a fractional share of real property, you can file what they call a partition action. Partition action is where you sue the other co-owners of the property, ask the court to appoint what they call a special magistrate, which is a third party who will list and sell the property and none of the beneficiaries have to sign the deed. Then all the money is held with the clerk of the court or with the closing agent from the sale of the property. And then the expense of bring the partition acts, including attorney fees, is then distributed pursuant to a court order, to all the owners and their fractional share. So if you owned a half interest, you would be entitled to one half of the net proceeds. If any owner of the property would have paid taxes or insurance, they’re, they may be entitled to a special equity for these taxes and insurance that they’ve paid, which would come out of the net proceeds. If you have any questions about a partition action, give me a call at (727) 847-2288.