Real Estate Law
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Is there any contract which involves the piece of property?
Thanks for your question. Contract? I am a partial owner of a property that has a 50% interest in ownership.
Thanks for a great answer.
Here are few more details. The Other Party does not take care of the property, nor pays its share of the taxes and house insurance for the last 10 years. The property is in need of substantial repairs that I am unable to do because I am afraid that the other party will not pay its share for the repairs. I no longer wish to be a partial owner when the other owner is not responsible. I am no longer in communication with the other party. She is not returning my phone calls. Might the Judge in this case order for the other party to pay the legal fees if I will file a partition lawsuit?
Great! That is what I was thinking.
I am willing to buy out the Other Party. Now can the Judge order Partition by Appraisal instead of Partition by Sale or do I need specifically to ask for it?
If repairs need to be made, it would be at the discretion of the court, if you could not agree to either sell the property " as is" or make the repairs and then deduct the cost from the sale price to pay you back. You would not want to invest more money then you need to but if the repairs would increase the value of the home above the cost, it is something which you would want to do and could just ask they there be recovered when it is sold and then the proceeds split. Thank you for allowing me to answer your question. Please let me know if you have any follow up questions or need any clarification on something which I stated above. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help Iprovided. If you have nothing further, please rate my answer so I can get credit for my help - I hope you found it to be Excellent!
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