Q: I am in Massachusetts and want to sell my half of real property inherited to my sister. But for her to do that I need
to hold the mortgage until interest rates come down. Is a mortgage deed the best way to do this?
A: You would sell your interest in the property the same way you would sell any interest in real property.
A:
Your question is not clear. Generally, two persons cannot be forces to hold title to real property together. When one wants to sell, and the other does, not a Petition to Partition is filed and the court will then appoint a commissioner either divide the land, if possible to do so, or to sell the property and distribute the proceeds to each owner.
If you are trying to buy your sister's interest from her, but are not able to pay her now, there are ways to handle that situation as well.
For each situation, you will be well served by speaking to an attorney to review the specific facts and advise you of your options. You mentioned the property is inherited, however, there may also be a need to Probate the Estate of the individual that the property was inherited from.
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