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Partition Sale

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rcb863

Junior Member
What is the name of your state?
Florida
Another party gained 50% ownership of Life Estate property as the result of a bankruptcy.
Can the other party force a Partition sale even though the Remainderman does not agree?
 


rcb863, that is what a Partition suit does. It is a forced sale. Either owner can bring it. Remember the conditions placed upon a life estate. The life estate can be abandoned.
 

rcb863

Junior Member
Partition sale

Now we have two opinions,

One says that 1/2 could be sold, with the Life Estate intact.

The other says the whole property could be sold. Life Estate abandoned.

Do we have a tie-breaker?
 

nextwife

Senior Member
Depending upon the Life Estate language, one cannot necessarilly FORCE the life estate holder to abandon their interest. They may, however, do so voluntarily IF they so desire. And while the whole property may be sold, if would have to be purchased SUBJECT TO the life estate terms.
 
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rcb863

Junior Member
There are two remaindermen
One RM does not want to sell at this time because the other RM and the Life Tenant are trying to demand a large payment to buy-out the Life Tenant's interest. (they are related)

Ordinarily, all parties have to agree to sell a Life Estate.

Does a Partition suit over-rule a Life Estate?

Who decides how much the Life Tenant receives?
 
rcb863 said:
There are two remaindermen
One RM does not want to sell at this time because the other RM and the Life Tenant are trying to demand a large payment to buy-out the Life Tenant's interest. (they are related)

Ordinarily, all parties have to agree to sell a Life Estate.

Does a Partition suit over-rule a Life Estate?

Who decides how much the Life Tenant receives?
Please take notice of just how nexie says the life estate can be abandoned. This is what I was referring to previously. (nextwife has an uncanny knack for divulging sound recommendations.)

It has always been my understanding that the Life Estate Tenant was living on and/or experiencing the entire share the Tenant is entitled to, by being provided in full and in advance, a Life Estate.
 

rcb863

Junior Member
The questions still remain;

Can the Courts force a Partition sale on a Life Estate property,

even though all parties disagree and two of the three parties are trying to extort

a large payment from the third party.

Would the Court decide the worth of the Life Estate?
 

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