I and six siblings own a property. 4 of want to sell the property. 3 do not want to sell. There is not revenue generated from the property and it is falling into disrepair. The property is located in butler County Ohio USA
Optional Information: hamilton, OhioAlready Tried: discussions over the past 3 -4 years. Our last agreement was to sell once the renters were evicted. They are out but now one sibling is looking for renters again and then saying we can sell the house. I feel powerless because no one else seems to be able to prevent him from doing what he's planning.
Hello and welcome to Just Answer.
How is ownership held on the title? Are each of the siblings listed as "tenants in common?"
Reply to Jen Sterling's Post: We inherited the property from our Dad. I don't know how we are listed. I'm assuming it is tenants in common. WHen I look up public records it says my brothers name then 'et al'
Thank you for the additional information.
Any one tenant in common can force a sale of the property even when the other co-owners do not want to sell. Such a legal action is called a partition lawsuit in which the court orders the property sold and the proceeds divided among the tenants in common (TIC).
As a tenant in common holding a common interest in real property, the law affords you certain rights, obligations and remedies. Unless the parties otherwise agree to waive the right, each tenant has the right to partition the party. Partition is similar to seeking a dissolution of a business partnership or marriage.
It is noteworthy, however, to review with counsel whether the TIC entered into any agreements in connection with how the property would be held and managed. If there are agreements, it will be necessary to determine the scope and enforceability of the agreement.
Upon the filing of a petition by an owner, the Court determines whether the right to partition exists, and if so whether the partition decree should order the property divided among the co-owners, usually impractical or unlawful, or, in the alternative, should the decree order that the property be sold and the proceeds divided among the co-owners. As part of the partition, you may also want to address whether there are any financial obligations of one owner owing to the other.
In most instances, with the assistance of counsel, the tenants in common usually come to an understanding to market and sell the property. Because of the cost and delay involved in filing a partition lawsuit, cooperation between the tenants is the first choice. Generally, a voluntary sale yields a higher selling price than a court ordered sale.
So, you can first make it clear if they refuse to sell the property, you will be forced to file a partition lawsuit. Often, the use of a mediator or arbitrator is helpful to avoid litigation.
Let me know if you would like more information.
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