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Old 08-06-2007, 03:14 PM
 
3 posts, read 35,601 times
Reputation: 18

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Does anyone know the laws regarding forced sale of a home? My parents put their home in my sister and my names 10 years ago. They recently passed away and now my sister wants to force me to sell the house so she can extract her part of the equity. Although I'm sure it may be legal. How quickly can she do this? If she can force me to sell the property I assume she would need to file some paperwork with the courts. Who is liable to pay the attorney fees?

Do I have any recourse or could I delay this some way?

Thanks,

Chris

Last edited by cnev; 08-06-2007 at 03:35 PM..

 
Old 08-06-2007, 03:24 PM
 
Location: Tolland County- Northeastern CT
4,455 posts, read 2,560,986 times
Reputation: 1237
Quote:
Originally Posted by cnev View Post
Does anyone know the laws regarding forced sale of a home? My parents put their home in my sister and my names 10 years ago. They recently passed away and now my sister wants to force me to sell the house so she can extract her part of the equity. Although I'm sure it may be legal. How quickly can she do this? If she can force me to sell the property I assume she would need to file some paperwork with the courts. Who is liable to pay the attorney fees?

Do I have any recorese or could I delay this some way?

Thanks,

Chris
I suggest you seek an attorney's counsel on this issue.
 
Old 08-06-2007, 03:40 PM
 
Location: Connecticut
14,560 posts, read 23,197,155 times
Reputation: 3244
You could offer to buy her share of the property. It could make a good investment for you. If you own half of the home, that should qualify as your downpayment and it should not be problem getting a mortgage against the property if you have decent credit. If you do not already live in the home, you could rent it out which would pay for the mortgage.

As Skytrekker recommends though, definitely talk to a lawyer. Jay
 
Old 08-06-2007, 03:52 PM
 
3 posts, read 35,601 times
Reputation: 18
Default Forced sale of real estate

JayT,

Yes I know I can buy her out and I would like to do that but there's along story behind this and I'm not sure we will ever agree on a fair buyout. We can also sell it together and split the proceeds. the problem really lies in her wanting 50% of the sale price but she has never lived in the house etc. I have lived there and helped maintain it for years and I personally don't think she's entitled to 50%. I

I really want to know what my rights are since the way this is going I see it ending up being a forced sale or at least her trying to do that.
 
Old 08-06-2007, 03:57 PM
 
Location: Connecticut
14,560 posts, read 23,197,155 times
Reputation: 3244
Unfortunately, you living in the house and helping maintain it does not mean much. Maybe if you have paid the bills for the upkeep since your parents have died, it means a little more and you could demand half but then she would ask for half rent on her share. Talk to a lawyer. Jay
 
Old 08-06-2007, 08:00 PM
 
Location: Cheshire, Conn.
2,102 posts, read 5,194,807 times
Reputation: 500
Quote:
Originally Posted by cnev View Post
JayT,

Yes I know I can buy her out and I would like to do that but there's along story behind this and I'm not sure we will ever agree on a fair buyout. We can also sell it together and split the proceeds. the problem really lies in her wanting 50% of the sale price but she has never lived in the house etc. I have lived there and helped maintain it for years and I personally don't think she's entitled to 50%.

I really want to know what my rights are since the way this is going I see it ending up being a forced sale or at least her trying to do that.
She is entitled to 50 percent. But you are entitled to a reimbursement for those items not related to "your comfort" while living there: utilities, heat, hot water, etc. Try to retrieve receipts for corrective repairs and preventive maintenance. An attorney could advise you on lawn maintenance and snow removal expenses.

You should also seek an appraisal from a licensed appraiser.

I'm not an attorney but can tell you that all owners of real property must be in agreement to its sale. Furthermore, all owners must agree on the same offer.

Last edited by Rich Lee; 08-06-2007 at 08:10 PM..
 
Old 08-06-2007, 08:47 PM
 
53 posts, read 195,419 times
Reputation: 15
Default Cnev

Moderator cut
I feel the question on the 'relevancy of the OP has been stated below.
The moderator reserves the right to allow a post to remain on the forum-
and if need be it will deleted or edited. Calling out the moderator on questions on the 'relevancy' of a post is not allowed.

Last edited by skytrekker; 08-07-2007 at 04:31 PM..
 
Old 08-07-2007, 03:20 PM
 
3 posts, read 35,601 times
Reputation: 18
Coolstrom,

Sorry I just happened to find this site the other day and htought maybe someone would be able to answer my questions. The reality is I will have to talk to an attorney as would I was looking for was more information on the legal aspects of forcing the sale.

Sorry if I posted something inappropriate.
 
Old 08-07-2007, 03:23 PM
 
Location: Tolland County- Northeastern CT
4,455 posts, read 2,560,986 times
Reputation: 1237
The OP asked a question as a real estate owner in the state of Connecticut- it was done in an honest and straight forward fashion- it was totally appropriate. The answers where helpful.

I as moderator have a right to edit, delete threads or posts. This in my opinion was not a problem as a posted question on the forum.

Last edited by skytrekker; 08-07-2007 at 03:32 PM..
 
Old 08-07-2007, 04:55 PM
 
53 posts, read 195,419 times
Reputation: 15
Default Sky

I agree completely that you as a moderator has all the rights in the forum to monitor and restrict the forums...However, when i had posted one of the Tax Lien certificate question it was deleted right out and surprisingly i saw it back on again...And then question here is no matter how straightforward it is...it was irrelevent considering your earlier judgement about my post...so i am very confused regarding what is consider as a valid post.

Thanks SKy...nothing against anyone...just seeking the truth so i know what to pose here, because me being a young guy want to explore many different ideas regarding Real estate in General and very specifically in CT...

Thanks in advance, CoolStrom
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