Partition

[MTsioux]

What is the name of your state?What is the name of your state? Montana
My husband inheirited 1/4 interest in a tenants in common piece of property with other family members. We each have our own "cabins" on this 125 acre piece. Due to unreconsilable differences he wants his 1/4 interest to be separated from the others, so that we would own our 33 or so acres ourselves, with our own deed etc. What do we need to do? We are sure the "others" will not want this property split.

 

[seniorjudge]

Q: What do we need to do?

A: You must file a partition (i.e., forced sale) lawsuit. You can buy your part back if you are successful at the court-ordered auction. You will, of course, have a credit on the purchase price at whatever amount the court sets for you.

 

[MTsioux]

auction?

what exactly happens in this forced sale lawsuit? Does the entire property go up for auction or just our quarter interest? Is that a public auction? I appreciate your advise...and info.

 

[seniorjudge]

Q: what exactly happens in this forced sale lawsuit?
A: All of the property goes up for sale at a public auction; the court may or may not set a reserve (i.e., a minimum for which the property must sell) based on the previously done appraisal.

Q: Does the entire property go up for auction?
A: Yes.

Q: Is that a public auction?
A: Yes.

 

[MTsioux]

Thanks very much....

 

[seniorjudge]

Thanks very much....

You're welcome!

 

[HomeGuru]

Another happy customer.