Need Some Help

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

My grandmother died this past June. Prior to her death the property was put into the 4 daughters names... so each owned 1/4th of the property. Money was left to be used to pay taxes, bills, maintenance, etc. The daughter that was left in charge was to take care of this. Since then there has been many shady actions including not totally releasing the information regarding where the money was going or being spent to the other 3 daughters. She also kept money that was to be divided from other bank accounts to retain a lawyer to "protect herself" from any possible legal actions taken by the other 3.Now per her lawyer they are all reponsible for 1/4 of the bills, etc But with all that aside my question is, now the 1 daughter that was left in charge wants out of the property. the other 3 do not want to sell right now do to the economy being so bad. is it possible for the 1 daughter to force the other 3 to buy her out? If this is true where do they come up with a price? Is it from the taxable value or the state equalized value? Or does it have something to do with an assessment price? Or local real estate value?

i can not see how this could even be a possibility... but she says she can if they do not pay her what she wants for her 1/4.


Please help any information would be much appreciated

But with all that aside my question is, now the 1 daughter that was left in charge wants out of the property. the other 3 do not want to sell right now do to the economy being so bad. is it possible for the 1 daughter to force the other 3 to buy her out? If this is true where do they come up with a price? Is it from the taxable value or the state equalized value? Or does it have something to do with an assessment price? Or local real estate value?

i can not see how this could even be a possibility... but she says she can if they do not pay her what she wants for her 1/4.

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If you are in the bargaining phase, the buy-out price is whatever it takes to get the daughter to sell. Or, looked at from the other side, whatever the buyers of her share are willing to offer. A market appraisal can provide bounds for the negotiating, but neither side has to accept that.

And if the bargaining does not work, yes, she can initiate a law suit for what is called "partition" if the other 3 decline to buy her ownership stake. Do a Google or Yahoo search on "partition lawsuit." Such suits tend to be lengthy and expensive.

Need some help

im unsure that bargaining will be an option. it seems she wants more than they can offer to her. i am in disbelief that the court can force someone to buy someone out? how can they tell the other 3 u have to fork up the money when she is the one that wants out.

in my opinion if she wants out she should be have to take what they offer... its a reasonable offer by the way.. nothing shady to my knowledge.

jdpower5 said:

im unsure that bargaining will be an option. it seems she wants more than they can offer to her. i am in disbelief that the court can force someone to buy someone out? how can they tell the other 3 u have to fork up the money when she is the one that wants out.

in my opinion if she wants out she should be have to take what they offer... its a reasonable offer by the way.. nothing shady to my knowledge.

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I don't think that you did that search on partition suit.

If the property cannot be reasonably divided between the co-owners, the court will not order anyone to buy anyone else out. The court will order that the property be sold with the proceeds divided among the co-owners.

so if you go to court and they order it to be sold, what happens if it takes 6 months to sell and do you have to take the firts offer or just an agreed on offer? who pays for her 1/4 of the bills that she is refusing to pay during those months?
can you take a lein out on the 1/4 she owns to re-coup the expenses once it is sold?

FYI: the house and property are located in northern michigan, u have keep heat on so pipes dont freeze and how can u show a house if it does not have electricity?

Also bills for electicity are about $8-10 and propane every 2 months about $75-80

seems pretty reasonable to me, seems like it will cost a lot more if it has to go through the courts.