Q: Need to get a TIC off deed to property. Options short of partition? Need to sell. TIC in default of lease.
In April, 2017, purchased house for friend & family. I paid cash. Friend wanted name on deed. I agreed. No financial contribution by friend. Have executed lease w/option. Tenant in default. TIC refuses to execute QC deed. Need to sell property ASAP. Would prefer to sell with realtor vice auction. Would also prefer to avoid time & expense of partition suit. Options?
A: Your question is unclear. You are stating you want TIC off deed AND that TIC is in default of a Lease w/ Option to purchase. If a person is on the deed as TIC, there wouldn't be a Lease, since they are already on the Deed. You will need to review your documents with an attorney to determine your current status and the best option for you going forward. Best of Luck! Jennifer
A:
If you put your friends name on the deed then they are not a tenant. Your only option is a partition.
Suggest that you should consult with a real estate attorney in your area.
A: Only option is partition. A TIC i sin fact a co-owner; that was a huge mistake on your part.
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