Q: I co own land and need to sell my interests. The other owner doesn't want to sell or buy me out. Am I stuck?
I have a buyer. I really need the money for medical bills. The co owner wants to keep it, and wants me to remain co owner. I feel stuck. How do I sell my share of the property. It is not divided by surveys, one 36 acre piece of woods.
A: Unless you get the other Tenant In Common to buy your 1/2 Undivided Interest, you will probably need to file an Action for a Sale By Partition. Hire a competent attorney that litigates real property.
A: As a co-owner, I presume each tenant owns an equal undivided partial interest in the real unless your deed designates a specific ownership percentage for each co-owner. Rather than go to court, you have the right, as a tenant in common, to transfer your undivided interest to another person without the consent of the other owner(s). This can be done through a quit claim deed. In transferring your interest through a quit claim deed, you, as the grantor, are making no warranties or guarantees regarding the property being transferred. The only statement being made by you is that you are releasing your interest, if any, in the property.
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