2 owners only one wants out

[mils22]

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

I own a home free and clear with my sister. It was are parents whom have passed. Both are names were on the deed with rights of surviorship. I want to buy her out or sell so I can use the money to purchase a new home. She wants more then its worth and will only list it for a inflated price. I have had many realtors give me comp's etc. Even with all the figures she will not budge. I have done everything possiable to protect are relationship but now need to move on. I offered to buy her out but not at her price at a fair price determined by the market. She refuses. What woudl happen if I got a lawyer? What is the law?

 

[justalayman]

What woudl happen if I got a lawyer?

well, to get things split up, you will likely need a lawyer anyway so you might as well get one who can send ominous sounding letters and hope that gets things moving.

If those letters don't work, your only other option is to sue to partition. That is where you ask the court order the property be divided. Since the only way to divide the property is by selling it, that is likely what will happen. The parties lose a lot of control of things like price so you could end up with a sale that is actually less than market value plus you will each have attorney's fees to pay on top of that. It's a win/win/lose/lose situation. The lawyers are the win/win and you and your sibling are the lose/lose.