Q: My brother & I co-own, as tenants in common, undeveloped land in COLORADO. Can I sell my 1/2 without his approval?
COLORADO LAW- Since the entire 40 acres (Las Animas County) are each owned as undivided equal interest by each of us; how can I sell my 1/2 ?
AS INFO ONLY--- My brother has sold his 1/2 ( of 27 acres) interest in the same type ownership of raw land in MAINE. He did so with out my knowledge or consent in any specific division of the acres sold. The deed got filed with out me even getting a copy of the deed showing that I am now co-owner tenant in common with a third party I do not know and the deed reads we each own undivided equal interest in the entire 27 acres.
A:
Tenants-in-common (TiC) and Joint Tenants have nearly identical ownership rights. The basic concept is that if all owners are alive, each owner has a 100% interest to the entirety of the property, but is required to share the property with the other owners. Partial interests can be sold to other parties (unless there is a contractual limitation that prevents sale). Similarly, development can occur on the property without consent of all (or any other owners). Note, the other owner still has a partial interest in the land AND development on the land.
If the owners cannot agree, it is possible to seek a court action to divide the property (usually based on the percentage ownership, but the exact division of large tracts of land always have some play about exact percentages and location of the division(s).
Usually for land development the voluntary (between parties) or involuntary (court action) division of the property occurs before a sale because the joint ownership issue can significantly impair the ownership of the developed property. For example, if a 50% owner develops part of the land for homes, the other owner lawfully owns 50% of the property purchased by the 3rd party buyer. Functionally, this means that the other owner can enter the developed property (and home) without consent (because they are a partial owner). This is why most lenders will not loan to a non-divided jointly owned property unless all parties waive ownership rights.
It is highly recommended that you contact a real estate attorney for further advice and assistance. Expect to pay for the attorney's time.
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