SELLING YOUR HOUSE WHEN JOINT OWNERS WON’T COOPERATE
Updated: Nov 29, 2017
Can you still sell your house when there are other owners that you aren’t in touch with or may not want to cooperate?
When owners of jointly owned property can’t agree on the sale of the entire property, there are still options available that you want to pursue.
Every owner ought to act in good faith, even if they are in a tough spot. More importantly, they certainly shouldn’t think they will be able to fool anyone long enough to get through to a closing. At some point, buyers are going to have a title search done and figure it out..
Some really need to sell houses for a variety of reasons, but can’t find these other parties or can’t get them to agree to sign the paperwork. Some may not realize other parties are considered part owners to their properties. Others think if they don’t mention it that it won’t be noticed.
Properties have changed hands multiple times, people have been added onto title deeds, families and couples have split, and siblings have been left property by parents. All of this can complicate the title of a home and present some possible issue when selling your home.
One option is a partition lawsuit; this is where the court can order the sale of the entire property and divide proceeds among its owners. Partition lawsuits are usually a last resort. Courts always prefer co-owners to cooperate in selling the property before considering forced partition if your home’s co-owner won’t agree to a sale, you might consider just selling your share in the property. However, that doesn’t mean you should give up on selling.
Another tip for selling your house is to approach a local real estate investor who is actively buying homes, who might provide assistance, bear the brunt of the work to convince the other party it is in their best interest to sell or perhaps cover the cost of an attorney to do it. Be transparent, ask for assistance and you’ll find it.