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How do I sell a farm I am part owner of?

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magi376

Member
What is the name of your state? Wisconsin

I am equal partners with my brother of a farm. I want out and he refuses or is unable to buy me out. Many neighbors would be willing to buy my share if I could determine what exactly my share is...is it the barn and farm building?...the pasture lands...the cultivated fields?

Can anyone give me a step by step guide to selling my part of the farm? I am a neophyte about all this.
 


HomeGuru

Senior Member
magi376 said:
What is the name of your state? Wisconsin

I am equal partners with my brother of a farm. I want out and he refuses or is unable to buy me out. Many neighbors would be willing to buy my share if I could determine what exactly my share is...is it the barn and farm building?...the pasture lands...the cultivated fields?

Can anyone give me a step by step guide to selling my part of the farm? I am a neophyte about all this.
**A: there are numerous books written on the subject of selling real estate.
Your interest in the farm is 50% undivided of everything.
So you own half of the barn and building, half the pasture, half the cow, half the pig etc.
 

magi376

Member
Time is of the essence as I need money as quick as I can get it this is why I posted here in the first place.

I was sick and in hospital for a month and bills are piling up. I have something worth around $200000 but I cannot use it until I can sell it...and no I cannot borrow on the farm as I have poor credit and never borrowed before so I have no credit history...I have tried borrowing using the farm as collateral but my bank will not lend me anything and my brother is being a jerk and will not co-sign any loan....he "says" he wants to buy me out but has no money and doesn't want to borrow enough either. I gave him almost a year earlier a chance to buy my share and he still has not and I don't believe he EVER will.

Can I sell my share without his acceptance? Can he hold up things forever through legal means? There are neighbors who would buy me out in a second if it doesn't mean a protracted battle with him...is there REALLY a book that would cover ALL this?

I ask again...is there a way out for me?
 
J

JonT

Guest
Have ya considered getting a job and making payments towards your medical bills rather than selling your farm and your future and ruining your brothers livihood as well? Just a thought. Jon T
 

magi376

Member
This farm is NEITHER his nor my livelihood. I USED to farm and we inherited this farm when my father passed on...I do NOT want to farm anymore and HE has NEVER farmed.

I asked for HELPFUL advice on how to sell the farm not snide comments that I don't work or insinuating I'd be putting my poor brother out on the street if I sell. I am in a true bind and would not contemplate selling the family farm to anyone other than my brother if it wasn't absolutely neccessary.

MY father passed four years ago and we both treated the farm as something for a rainy day(we rented it out to nieghbors)...well it's pouring right now and I am drowning.
 

I AM ALWAYS LIABLE

Senior Member
My response:

The only way out is to sue your brother for "Partition." In such a lawsuit, a court will order that the farm be sold, and the proceeds divided equally.

See a Real Property attorney.

IAAL
 

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