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Good morning! Situation: Three adult children equally shared

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Good morning! Situation: Three adult...
Good morning!
Situation: Three adult children equally shared the house when Mom died. Father died a long time ago. The children also received a lump sum of about $30,000.
One of the children squanders his $30,000 in cash and signs a Quit Claim on his portion of the house to keep creditors from going after that. He remains a resident in the house and actually occupies a major portion of the house.
Two remaining owners. Sisters. Can one sister sell her portion of the house without permission or participation of the other sister?
Third sister is terrified of becoming dispossessed of her place to live.
Submitted: 1 year ago.Category: Estate Law
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5/2/2016
Estate Lawyer: Richard, Attorney replied 1 year ago
Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 56,030
Experience: 29 years of experience practicing law, including tax and estate planning.
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Good morning. My name is ***** ***** I look forward to helping you. Any of the owners can sell their interest in the home, but only their percentage interest. This does not require the consent of the other owner. To sell the entire house ownership, all owners must consent; and, typically, a prospective buyer doesn't usually want to purchase a percentage interest in the house so it's difficult to sell just one owner's interest. BUT, if one co-owner wants to sell and the other does not, and the one not wanting to sell will not agree to purchase the interest of the one wanting to sell, the owner wanting to sell can force the issue by filing a suit for partition. The result of that suit will be one of the following: i) if the property can be equitably subdivided, the court will order the property divided into smaller parcels with each owner then owning 100% of their own smaller tract with full control over that tract; or ii) if the property cannot be equitably subdivided, the court will order the property sold and the proceeds divided. Since a house cannot be divided, the court will order the house sold. The reality is that in most cases, once the owner fighting the sale finds out the certainty of the result of a suit for partition, that owner typically agrees to the sale without the suit to avoid the costs of the suit. Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!
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Richard
Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 56,030
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Experience: 29 years of experience practicing law, including tax and estate planning.

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