Inherited home, equal distribution/ownership. One party wants it sold yesterday

[question4me]

Inherited a parent's home evensplit. One party wants/wanted the home sold immediately. Agreed to sell with in 9 months. Still time to go but the party that wants to sell the house is complaining they lost money because of carrying costs, taxes etc. The second party was living there with the parent helping out and needed time to find a new home. The person living there has also paid those carrying costs.

1) Can the seller want to be force a buyout by getting a court order to buy them out or leave especially before the estate is settled/closed?
2) Can the person living there use their 50% ownership stake to not sell the home for a period of time before a decision must be made?
3) Can the want to be seller sue the non seller for lost profit(if any)?
4) Can the seller want to be be forced to share the cost of estate related expenses/carrying costs?

 

[FarmerJ]

If a partition suit is started to force the sale of the home because a court ordered it to be sold then every one is likely to lose because the home could be sold for less than its worth. If its that big of a burden to one party then is there a way they could be excused from paying cost related to the home and take a bit less in order to compensate the other party when it is sold ?

 

[question4me]

Thank You

That's what I was thinking a court ordered sale takes control and/or selling price out of both parties hands. I guess the biggest issue since it's 50/50 control what if one party wants to sell now and the other party doesn't want to sell yet-is there a time frame or deadline when a decision must be made. The house will be sold under a year.

 

[LdiJ]

Inherited a parent's home evensplit. One party wants/wanted the home sold immediately. Agreed to sell with in 9 months. Still time to go but the party that wants to sell the house is complaining they lost money because of carrying costs, taxes etc. The second party was living there with the parent helping out and needed time to find a new home. The person living there has also paid those carrying costs.

1) Can the seller want to be force a buyout by getting a court order to buy them out or leave especially before the estate is settled/closed?
2) Can the person living there use their 50% ownership stake to not sell the home for a period of time before a decision must be made?
3) Can the want to be seller sue the non seller for lost profit(if any)?
4) Can the seller want to be be forced to share the cost of estate related expenses/carrying costs?

This is mostly personal opinion. The 50% owner who is living there is a really selfish person. They should not be fighting the selling of the house at all, and they should be covering ALL of the carrying costs pending the sale of the home if they are going to continue to live there until its sold.

It doesn't take 9 months to find a new home.

Now, what the person who wants to sell can do, is file a partition action in court. What that will do is force the house to be sold, generally at auction and generally for far less than the house is actually worth.

 

[question4me]

Thank You

The house is in the process of being sold.

The seller want to be originally wanted the other to buy them out with a number given to a lawyer along with taking over a home equity loan. And continue to live and store stuff there. They verbalized the buyout preference several times for months. They tried to use the situation for leverage. The seller want to be also lived there at least part-time and before and after the parents passing and has as much stuff stored there as the person living with the parent.

The seller want to be also has a history of drug and alcohol abuse, unemployment, bankruptcy and unpaid loans from parent(the heloc) and tried to use selling the house for leverage. The parent also had to get them a car in their name which is still not paid off or turned in The seller want is/has also complained about having to pay for things like the funeral for which they have paid less than half.

Other issues as well that didn't make selling home easy the first months after passing. The seller want to be wanted to renovate/flip the home like they do on tv. Got mad when the other wouldn't front the money for a flip. Even the experts including the realtor and lawyer who handled similar type situations/homes in the neighborhood said full renovation or sell as-is cleaned up. They also rejected the lawyer's recommendation of cash buyers.

 

[Just Blue]

What state?

 

[question4me]

What state?

For confidentiality can't say.

 

[PayrollHRGuy]

For confidentiality can't say.

Laws vary your question can't be answered properly without know the laws of your state.

There is no state where there are so few situations like you posted that it would be identifiable.

 

[Just Blue]

For confidentiality can't say.

Then you shouldn't be posting on the net. You can't get accurate information without providing the state.

 

[question4me]

Should note one of the reasons I mentioned the seller want to be's stuff in house is they have done little to nothing to get it out. They want the house sold but have done little on their end. Their life style and schedule changed little. They are still pushing/hoping for a buyout with deadlines in hand. If they were serious about selling the house why didn't they clear all of their stuff out shortly after the parent's passing to show they were serious about moving. They didn't give the other party permission to throw it out. And this same person who wanted the sale for money wanted to pay lawyers ,accountants, specialists etc to do/arrange everything which would've taken about $25K out of cash left over at the end.

 

[question4me]

Then you shouldn't be posting on the net. You can't get accurate information without providing the state.

Understood. I think a court ordered sale probably at a lower price answers the question. I didn't expect response in such detail. I thought there were more common guidelines, rules, laws in all 50 states.

A major legal and social queston is do monetary rights supersede decision making rights if things are deemed 50/50 for both.

Thank You for responses

 

[Zigner]

A major legal and social queston is do monetary rights supersede decision making rights if things are deemed 50/50 for both.

Legally, rights are rights.
An answer to the "social question" is beyond the scope of a legal forum.

 

[stealth2]

Which party - if either - are you?