Can one of three inheritors sell said property when the other two do not wish to sell at this time?

Wills And Estates 2 views 3 answers
One lives nearby and takes care of the property, just because he wants money instead of property he put the property on the market and nothing in that area is selling for anywhere near it value.

Attorney Answers

3
Gregory Benton ·
Yes one of the inheritors can force sale if the other two do not want buy out the other's fair market share of the property.
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Wanda SmithOil / Gas AttorneyRichardson, TX ·
You need to retain an attorney in this situation. You can either partition the property so they can sell their 1/3 or the other two parties can purchase the third party's interest. You cannot prevent the third person from exercising their right to sell their interest. Partitioning the property will be a court proceeding, so you will need to retain an attorney to ensure it is properly and legally done. The simplest solution will be for the two other owners to buy out the third, but you need an attorney to help negotiate the process of getting an appraisal and drafting the contract and deed.
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