If we own property with other people, can they force us to sell?
Question Details: We bought property with my brother and his wife It was financed by a bank and all payments are current, as well as the taxes. We cannot afford to buy them out right now but my sister-in-law wants out.
Actually, they can make you sell. When joint owners of property cannot agree as to ownership matters, the law provides the remedy of "partition". In such an action, the court will order that the property be divided if possible. If not, as in the case of a single family house, then the court will order a "sale in lieu of partition". This means that the property will be put on the market. Once an on offer for fair market value is accepted and the sale is completed, the proceeds will be equitably distributed among the owners. First, however, the party who wants to keep the property will be given the chance to buy out the others parties who do not want to sell.