Can he do this? - Posted by Lorna...FT. Worth, TX

Posted by JohnB_NJ on January 21, 2000 at 24:37:52:

Hello Lorna,

First let me say that I am not an attorney. I am just a RE investor that can’t sleep tonight and I might have an idea of what might be going on here…

BTW, I am basing this on NJ law. In NJ if you hold title as Tenants in Common and one of the owners wants to sell, and the other owner doesn’t and the land can not be divided up equally (hard to do with a house on it) then the court can order the sale of the property and the proceeds are then divided up. All it take is one tenant (owner) filing a “partition” suit against the other.
The proceeds of the sale are divided up among the co-owners according to their respective interests.

This is not recommended unless no means are available. If the co-owners are not co-operative with each other. When the court gets involved, most of the time the house will be sold below market value at some type of auction.
Again, this is just based on what my NJ Real estate book says. I have no first hand experience with “partition” in the case of RE held as tenants in common.

Hmmm, I am starting to get sleepy. Must be this boring NJ RE book. 8^)

Have a great day!


Can he do this? - Posted by Lorna…FT. Worth, TX

Posted by Lorna…FT. Worth, TX on January 21, 2000 at 24:13:57:

Hello everyone,

I know someone (“owner”) who has a percentage interest in a property in Lewisville, Arkansas. It was left to him by his Dad. Somehow an investor also secured a percentage interest in the property and is trying to force a sale of the property at auction. The “owner” believes that the investor got interest in the property through another relative.

The property is free and clear of any taxes or liens so he doesn’t understand how the investor feels that he can force a sale. This has been going on for a few years.

Any thoughts would be greatly appreciated.

Thank you and God Bless,