Estate Law Questions? Ask an Estate Lawyer.
Hi; My goal is to provide you with great service - if you have any questions during our chat, please ask! I'll do my best to ensure your satisfaction! It would depend on the manner in which title is held - for example if there are any restrictions on the deed itself. If you and your brothers own it as co-owners (ie joint tenancy with right of survivorship; co-tenants, etc), then generally one's portion can be pledged. They can also sell their interest in the property (only their %). Generally, if a majority wants to sell the property and one person chooses not to, that person can, if they can afford it, buy out the other's interest. If that is not feasible, the parties wishing to sell the property can bring a motion requesting a court to order the property sold. Another option, for larger acreage such as this, is to request a partition, so that each owner's share is legally separated, becoming its own parcel with its own deed.
An example would be if one co-owner quit claimed his interest to a third party. This type of deed would only transfer his interest in the property to the third party.