A If you and your co-owners are tenants in common – and so each own a distinct share of the property – then yes you can force a sale. For a fee of £3 you can check whether you and your family members own the property as tenants in common by checking with the Land Registry.
Can you sell part ownership of a house?
Selling your Shared Ownership home. Selling a Shared Ownership home is known as a resale, and you are able to sell at any time. If you own 100% of your property, you can advertise on the open market via an Estate Agent. Any potential buyer of your share needs to meet the set eligibility criteria for Shared Ownership.
Can a joint owner of a property sell?
Generally, owners in joint tenancies and tenancies in common can sell their interests in the properties they own with others. However, an owner in a tenancy in common or a joint tenancy can’t sell the ownership interests of the other owners holding title in the property.
Can a court force someone to sell their house?
Also, you can’t simply force the other owners in your property to sell it entirely without first filing a partition lawsuit. In some cases, it’s more expensive to go through a court-ordered partition and sale of real property than that property is worth.
How is the sale of a jointly owned house divided?
They may also take some time. Court costs, sale costs and attorney fees resulting from a partition lawsuit also usually come from the partitioned property’s sale proceeds. If a court orders a sale of your jointly owned property, its proceeds will be divided among you and the other owners based on ownership interest percentages.
Can a person sell their undivided interest in real estate?
You have the legal right to sell your undivided property. The problem is finding a market for it. Others may not desire to step into your shoes and have co-owners of your property. Often, people with undivided interests in real estate are handling those interests with relatives or other close associates, which can be tricky.
