Joint Tenants Force Sale In Travis
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FAQ
If one owner wants to sell a jointly owned property but the other owner(s) refuse, the party seeking to sell can file a partition action. This legal procedure allows a court to intervene and force the sale of the property, dividing the proceeds among the owners ing to their ownership interests.
Joint tenants have an equal share in the ownership of an asset. If a joint tenant dies, the other tenant (or tenants) has a right of survivorship. The deceased tenant's interest is not an asset of their estate.
Until the contracts are signed and exchanged, a seller can pull out of the house sale without any concerns about legal action being taken against them. With no contract, there is no legal obligation for them to sell and they can pursue alternative avenues of sale or remove the house from sale altogether.
If your ex-spouse refuses to sell the house, you can take the case to the Family Court. The judge can order the sale of a house in a divorce. This involves having the property valued and sold for that value.
Joint tenancy should be used with extreme caution. It can subject a co- owner to unnecessary taxes and liabili- ty for the other co-owner's debts. It can also deprive heirs of bequeathed prop- erty and, in California, leave the joint tenant without right of survivorship.
In short, to force the sale of jointly owned property, you must first confirm title, then attempt a voluntary sale or buyout, file and serve a partition lawsuit, get an appraisal, sell the property, and finally divide the sale proceeds fairly.