Centreville, VA asked in Estate Planning and Real Estate Law for Maryland

Q: two people on deed, if only one person wants to sell, can he or she can do that ?

1 Lawyer Answer
Richard Sternberg
Richard Sternberg
Answered
  • Estate Planning Lawyer
  • Potomac, MD
  • Licensed in Maryland

A: There are two choices. First, provided the co-owner has a divisible interest, such a tenancy in common, they can sell what they own. That is often valueless, since nobody will want to buy the right to share the home with the other owner.

Second, if the property is indivisible, such as a normal suburban tract home, they can petition a court for a Sale in Lieu of Partition. There are almost no defenses to the petition, and, in Virginia, there is a statute that directs that fees be split so they can be paid from the sale. As a result, the costs are relatively reasonable. It is a bit more expensive in Montgomery County, because the Courts have applied foreclosure law procedures to a sale in lieu of partition, but it is just slower and a bit more expensive if the other party fights you the whole way.

Once you have real legal counsel and start a credible process, it is common to settle with one party buying out the other party funded by a mortgage or reverse mortgage.

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