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Dwayne B.
Dwayne B., Attorney
Category: Legal
Satisfied Customers: 33928
Experience:  Began practicing law in 1992
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I own a townhouse with my sister and sister in law. We don't

Customer Question

I own a townhouse with my sister and sister in law. We don't get along and we want to buy my sister in law out. How can we do this if there is no shareholders agreement or partnership agreement. The home is in Florida.
Submitted: 2 years ago.
Category: Legal
Expert:  Dwayne B. replied 2 years ago.
Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts.If she won't agree then you can hire a lawyer and file what is known as a "Partition Suit". That's a specific type of case where the judge has the property appraised and then anyone can buy anyone else out or if no one wants to buy the property at the appraised/market value then it can be sold on the open market and the amount split.Under your facts what would happen is you would offer to buy her amount or offer to sell her your amount. If you each wanted to but the other's share then you get into a bidding situation with the judge overseeing it.At the end the share is sold and then the other person has to sign the deed work.