Las Vegas, NV asked in Real Estate Law for Nevada

Q: I was left 3 separate parcels of land with a few other people. Do they have to buy me out or do I have to forfeit it.

I have been paying taxes on it and don't feel it's ever going to sell and want to be bought out.

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1 Lawyer Answer
Ben F Meek III
Ben F Meek III
Answered

A: Five options: 1) Buy out the others; 2) get them to buy you out; 3) file a partition suit to force a sale or a compromise buyout; 4) stop paying taxes and eventually the taxing authority will seize the properties for back taxes (possibly leaving a shortfall that each of you will still owe); or 5) maintain status quo. Talk to an experienced local real estate lawyer for advice on your specific situation. Good luck.

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