Multi owner

[headache]

NYC
My parents own a 2 family house with a relative. They have offered to buy out my parents and my parents have agreed to sell but they just never follow through and actually put in a deposit. My parents are more than willing to sell their share either to them or a third party at a fair market value. However now they have their lawyer sent my parents a summon for a partition.

 

[HuAi]

What's your question

 

[headache]

What should my parents do?

 

[seniorjudge]

What should my parents do?

They should have their lawyer file an answer to the lawsuit.

Then their lawyer should tell the other lawyer they'd be happy to sell without a lawsuit.

 

[HomeGuru]

NYC
My parents own a 2 family house with a relative. They have offered to buy out my parents and my parents have agreed to sell but they just never follow through and actually put in a deposit. My parents are more than willing to sell their share either to them or a third party at a fair market value. However now they have their lawyer sent my parents a summon for a partition.

**A: you left out a major piece of information like who is currently on title to the property.
Is it your parents and this relative?

 

[headache]

My parents and 2 relatives are on the title of the property.

 

[HomeGuru]

My parents and 2 relatives are on the title of the property.

**A: ok then I agree with the post by seniorjudge.

 

[headache]

Thank you all**************

 

[HomeGuru]

good luck as it's going to be a long drawn out expensive process.