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Old 10-19-2006, 01:46 PM
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Tenants in common ,Mortgage

What is the name of your state? fl.two friends of mine own a home in Fl.they are tenants in common.one of the partners wants to take equity out to purchase property of his own.Does anyone know if its possible for one partner to take out equity of a partner owned home without consent of the other partner? Secondly,can a partner request the home be sold by a court if the other partner doesn't want to buy out said partner ,or sell to third party?
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Old 10-19-2006, 03:36 PM
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Join Date: Jun 2005
Location: Conshohocken, PA
Posts: 613
Quote:
oes anyone know if its possible for one partner to take out equity of a partner owned home without consent of the other partner?
No. Well, not legally anyway.

Quote:
Secondly,can a partner request the home be sold by a court if the other partner doesn't want to buy out said partner ,or sell to third party?
Only after a prtition suit is filed, and this could be a very long and very expensive process. Come to terms, or go to court.

This link may prove helpful.

[url]http://en.wikipedia.org/wiki/Tenants_in_common[/url]
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