Joint Tenants Force Sale In Massachusetts
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FAQ
Generally, courts divide the costs of partition among the parties in proportion to their ownership interests or in a different manner when necessary to ensure equitable distributions.
Joint Tenants – When one joint tenant dies, the surviving joint tenant automatically owns the entire property. This is said to be a “right of survivorship.” A deed to two or more people must specify that they hold the property “as joint tenants” to create a joint tenancy.
Ownership as tenants in common permits owners to jointly own property, but each person's interest may be sold or transferred or passed through inheritance laws.
A petition to partition is a legal action that can be taken by co-owners of property who cannot agree on how to use or manage the property. The petition asks the court to divide the property into separate shares or to sell the entire property and distribute the proceeds among the co-owners.
Each tenant can sell or give away his share. If you want to sell the home with a tenant in common, you both must agree to sell your shares. The sale proceeds are divided based on the owner's interest. One owner can also buy out the other tenant in common's share to simplify the process.”
"If you die without a will in Massachusetts, your assets will go to your closest relatives under state 'intestate succession' laws.
The actual time it takes from when a partition case is filed to when the land is partitioned physically, by sale, or by set-off varies from case to case. In general, partition cases can take several months or even years to resolve.
This means that if one owner of the property dies, the other one will automatically own the property. A joint tenancy can be applied to real estate, vehicles, bank accounts, and other types of property in which each owner owns an equal share.