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Need to get out of inherited property
- Thread starter mdgirl909
- Start date
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ShyCat
Senior Member
Your husband can file a partition suit to force a court-ordered sale of the property with a split of the proceeds. This will involve time, lawyer fees, court costs, etc.
Or he can explain to his siblings that it would be much less expensive and time-consuming to cooperate in selling the property, or offering him a buyout.
Unfortunately, unless there is some pre-existing agreement among the owners, your husband cannot compel any of the other co-owners to purchase his 25% interest. Nor can he compel the other co-owners to join in selling the land on the open market.
When the property was distributed out of the father’s estate in equal, partial ownership among the four heirs an estate in cotenancy or tenancy in common was created. With each heir then becoming the owner (cotenant) of an undivided 25% interest in the entire parcel.
Big mistake on the part of the executor or administrator. The property should have been sold during probate and the proceeds distributed.
Because For the reasons mentioned above –
Plus the fact that the cotenants have equal rights to the possession and use of the parcel and are equally responsible for the expenses in maintaining the land, taxes, insurance, etc., – an estate in cotenancy is the worst possible way to create title to real property.
However, this does not mean that your husband has to remain permanently saddled to the property.
If the cotenants cannot come to a mutual agreement as to the disposition of the property, then either can ask the appropriate court to partition the property and divided it up equally.
If the property is so circumstanced that it cannot be fairly apportioned into four separate parcels, the court will order the property sold at a sheriff’s public auction. Which as you can appreciate will not bring a fair market price.
Your husband should consult with a local attorney aquainted with West Virginia’s laws on the Partition of Real Property.
Normally when co-owners that are reluctant to sell on the open market learn that their interests can be sold to the highest bidder on the front steps of the courthouse, they become more cooperative.
When the property was distributed out of the father’s estate in equal, partial ownership among the four heirs an estate in cotenancy or tenancy in common was created. With each heir then becoming the owner (cotenant) of an undivided 25% interest in the entire parcel.
Big mistake on the part of the executor or administrator. The property should have been sold during probate and the proceeds distributed.
Because For the reasons mentioned above –
Plus the fact that the cotenants have equal rights to the possession and use of the parcel and are equally responsible for the expenses in maintaining the land, taxes, insurance, etc., – an estate in cotenancy is the worst possible way to create title to real property.
However, this does not mean that your husband has to remain permanently saddled to the property.
If the cotenants cannot come to a mutual agreement as to the disposition of the property, then either can ask the appropriate court to partition the property and divided it up equally.
If the property is so circumstanced that it cannot be fairly apportioned into four separate parcels, the court will order the property sold at a sheriff’s public auction. Which as you can appreciate will not bring a fair market price.
Your husband should consult with a local attorney aquainted with West Virginia’s laws on the Partition of Real Property.
Normally when co-owners that are reluctant to sell on the open market learn that their interests can be sold to the highest bidder on the front steps of the courthouse, they become more cooperative.
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