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What is the potential bad side to a "petition to force sale of real estate"?

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fistsensei

Junior Member
What is the potential bad side to a "petition to force sale of real estate"?

What is the name of your state (only U.S. law)? NC

I have a no-contest divorce. I'm still on a mortgage with my ex-wife, and she refuses to refinance or sell the house. There is nothing in the divorce about the house and there are reasons for it being that way.

I've found that one of my options is to petition for a forced sale of the house. How does this work specifically?

The current loan amount is $87,600. I'm sure the house would appraise for that, however market conditions in my area are not good right now. Are there provisions in the petition that would say it can't be sold for under the appraised value?

I basically just want to force her to refinance or sell the property for what it is worth. She says it needs repairs however I do not intend to put money into the property while she is living there (she has animals that damage the property).

Could the petition back fire on me? Are there any other options I should look into?

Thanks.
 


divgradcurl

Senior Member
I've found that one of my options is to petition for a forced sale of the house. How does this work specifically?
You file a lawsuit to partition the property.

The current loan amount is $87,600. I'm sure the house would appraise for that, however market conditions in my area are not good right now. Are there provisions in the petition that would say it can't be sold for under the appraised value?
Generally no. If the partition suit ends in a court-ordered sale, it will be auctioned off by the court, and it will be sold for whatever the court can get.

I basically just want to force her to refinance or sell the property for what it is worth. She says it needs repairs however I do not intend to put money into the property while she is living there (she has animals that damage the property).
Without a court order, you can't force her to do anything. You should have included the disposition of the house and the mortgage in the divorce, because then there would be enforcement options.

Could the petition back fire on me? Are there any other options I should look into?
Depends on what you consider a backfire. Depending on how hard either side decides to contest the partition, the lawsuit itself could get quite expensive. Combine the cost of the lawsuit (legal fees, etc.) with the chance that the house will not sell for enough to pay off the mortgage, and you might find that you are better off financially just continuing to pay off the mortgage.

You should consult with an attorney in your area who can review all of the facts of your situation and advise you accordingly.
 

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