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Old 03-30-2011, 07:52 PM
 
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I have a question. If both parties agree to sell, can a partition be granted? It was my understanding that if both parties agree to sell a property that a partition is not necessary. Thanks for any help.
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Old 03-31-2011, 04:26 AM
 
Location: North Beach, MD on the Chesapeake
32,106 posts, read 39,170,046 times
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It's doubtful that there was any appreciation in value since assessments/values have fallen from between 12% and 40% all across MD in the last year or so. What's more likely is that the house will appraise for less, way less.

Consult a MD real estate attorney please, not anonymous posters on a forum. I'm in MD and don't know the format for what you want to happen, and I can usually give people at least an outline of what needs to be done.
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Old 05-31-2012, 06:24 PM
 
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My mother-in-law and her brother each own 50% interest as tenants in common of property deeded to them when their mother passed. The brother has now passed and his heir wants to buy my mother-in-law's interest. He gave her a "take it or leave it offer" She accepted his offer and his attorney drew up an Agreement for Sale. The Agreement of Sale has a clause that says if the heir doesn't go to settlement by the end of the year, the agreement is null and void. This was not a part of the agreement. The agreement was she sells for a $XXX, he buys for $XXX and pays the costs. Details of closing was not talked about when she was given the "take it or leave it. Is this a real contract and can the heir be forced to buy her interest?
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Old 02-14-2013, 05:40 PM
 
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I live in Mississippi and I am a tenant in common with two other relatives. They don't want to sell but I want my equity out of the house. If I file a suit for partition in court, what might I end up paying in appraisal fees, lawyer fees, etc.? I need to know because I may end up with less. Anyone have an idea of what it might cost me?
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Old 02-14-2013, 07:31 PM
 
Location: southwest TN
8,175 posts, read 14,253,018 times
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@stevenswld, you can contact an appraiser to ask what the fees are in your area, call the court clerk's office tofind out court fees, and contact a lawyer for an estimation of attorney fees. You can offer your unidivided interest in the property to your relatives and hope one or theo ther agrees to buy out your share. You should be willing to accept less than your 1/3 share of the estimated/appraised value if you wish to avoid the costs of a suit.

I suggest you contact a lawyer, no matter what. You can get an low-cost (usually 50-100) initial consultation.

either state or local Bar Association Lawyer Referral Service.
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Old 07-22-2015, 06:13 PM
 
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My father and mother legally put the house in me and my sister's name in December 2006. My sister recently stated she wants her name removed from the deed but with the stipulation that she recoups the $12,243.71 she paid in property taxes plus collect her share of any sale of the house if sold. During our joint ownership I paid all the homeowners insurance and some of the taxes, in addition to paying the car insurance after my father passed from cancer from 2010 to present. Again, we were co-owners and agreed to split the financial responsibilities. She has threaten to put a lien on the house in an attempt to collect the money she thinks she is due because she is distrusted with her siblings. Therefore, is trying to reclaim money that she and I were obligated to pay because we jointly own the home. What are my options.
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Old 07-23-2015, 07:31 AM
 
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I don't know the figures but maybe show her what you could then sue her for (what you paid) and she would see the light.
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Old 07-23-2015, 10:31 PM
 
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A quit claim deed, is the most popular deed in this type of situation. The deed simply gives the other party any ownership one has in the property, real or imagined. It is often used to clear up problems where an ownership change was not properly placed on public records, or as in this case giving up their rights to the property in question without making any guarantees as to the quality of the title.

My old law professor said, I can give someone a quit claim deed to the Brooklyn Bridge and it would be legal. I would be deeding my imagined rights to the bridge, and unless I have some legal rights I am transferring nothing.

If I have some legal claim to the property the quit claim deed, transfers that right to the other party. Warranty deeds on the other hand, have certain guarantees in them above transferring the legal rights.
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Old 07-24-2015, 05:04 AM
 
33,031 posts, read 12,488,458 times
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Quote:
Originally Posted by TrappedMD View Post
Thanks for the replies. I sorry I did not get a notice of your replies sooner. Clearly, the partition is not the way to go. I am working on getting a mortgage in my name only and having her sign a quit claim deed. If she does not change her mind, it will work out fine.

Thanks again.
Refi and quit claim deed. This sounds like the best solution. Fingers crossed.
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Old 07-24-2015, 10:36 AM
 
3,425 posts, read 2,121,646 times
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Quote:
Originally Posted by Chief First Sergeant View Post
My father and mother legally put the house in me and my sister's name in December 2006. My sister recently stated she wants her name removed from the deed but with the stipulation that she recoups the $12,243.71 she paid in property taxes plus collect her share of any sale of the house if sold. During our joint ownership I paid all the homeowners insurance and some of the taxes, in addition to paying the car insurance after my father passed from cancer from 2010 to present. Again, we were co-owners and agreed to split the financial responsibilities. She has threaten to put a lien on the house in an attempt to collect the money she thinks she is due because she is distrusted with her siblings. Therefore, is trying to reclaim money that she and I were obligated to pay because we jointly own the home. What are my options.
I'd suggest at least consulting an attorney. It sounds like a complicated situation to me.
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