Do you own a property with someone else and you want to sell? And the other person does not want to sell? If so, that sounds like a frustrating situation. The good news is, I can help you. We can force a sale through the court.
Perhaps you inherited your parents' house with your sibling. Or you bought an investment property with a business partner. Or you co-own a property for a different reason. You want to sell, and the other person wants to keep it. Possibly, the other person wants to buy you out, but for a very low price.
Now you have a problem. You can't sell. You can't refinance. You can't move forward. The property just sits there. Meanwhile, tensions rise. Opportunities pass you by.
The good news is, we can fix this. We can file a legal proceeding to force a sale of the property. Once the judge issues an Order, we will not need the other person's permission.
Here's how it works: We file a petition in Court. The court appoints a referee. The referee sells the property. If the parties don't agree, the referee will sell the property. The court will then issue another order. The new order will say how the proceeds of the sale get split up.
One important thing to understand: You don't need everyone to agree. That's the whole point.
Timeline-wise, a partition in New York City typically take from a year to a few years. Yes, it takes time. But it ends the deadlock. You're no longer stuck in an impossible situation.
If you're trapped in a co-ownership situation and need to move forward, I may have a solution for you. I've handled these cases throughout New York City, and I can help you understand your rights and options.
You can call my office to schedule a consultation. We can talk about your situation and figure out how to resolve it. You can contact us by phone at 212-233-1233 or by email at [email protected].