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I am joint owner in a house, my name is ***** ***** deed. can i…

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i am joint owner in...
i am joint owner in a house, my name is ***** ***** deed. can i force the other person to buy me out?
Submitted: 3 years ago.Category: Real Estate Law
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6/20/2015
Real Estate Lawyer: P. Simmons, Lawyer replied 3 years ago
P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 37,701
Experience: 12+ yrs. of experience including real estate law.
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Thanks for the chance to help. I am an attorney with over 12 years experience. Hopefully I can help you with your legal question.
Can you force the other owner to buy you out? Not directly, but you can take steps to liquidate any equity you have in the home. The way to accomplish this is through a partition action.
If you file a partition action with the County Court (the county where the property is located) the court will list the property for sale. Once the property sells the court will pay any expenses first (for example real estate commission closing costs and any mortgage on the property) and distribute the remaining funds from the sale between the owners.
Now, to accomplishes you would need to have a local attorney prepare and present the partition action to the court.
So there is a cost.
It may be you can convince the other owner to buy you out when you explain to them that if they refuse you will retain an attorney and force sale of the property.
Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
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