Q: Not by my choice, My 2 stepdaughters and i now own 1/3 each of the house that i have lived in for 30 thirty yrs...
I am wanting to downsize and sale. Are they legally bound to accept 1/3 of the agreed on selling price less their contribution expenses for the last 12 years since their father..my husband passed?
A: Yes and No- your question is complicated. As to the sale of the property, yes, you can force them to sell and they will be entitled to one third of the net sale proceeds if your husband/their father died without a will. the more difficult part of the question is the part about deducting their "contribution expenses for the past 12 years..." - In some cases, a court will allow other reimbursements for taxes or improvements made during the time of co-ownership, but this will depend on the particular facts of each case. Consult an experienced real estate lawyer for advice on your situation.
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A: You will probably have to file a Petition for Partition. Each owner can request the Court order reimbursements prior to dividing the after cost proceeds. Or you all can have an agreed order on how each Tenant In Common receives any reimbursements, or none. If no agreement, the Court may not allow all or any requested reimbursements. Either way you will need to retain a competent attorney to file and serve the Partition Action, whether the stepdaughters approve or not. You need a title search and maybe a survey now. The Court will require another attorney to issue a Title Opinion, which is another expense to be paid from the proceeds.
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