I have a legal question regarding a property that I wanted to inquire.

If there is a shop that was inherited by 5 siblings, with 20% equal share each, under what circumstances can one force a sale on the property?

Can 3 out of the 5 siblings force the other 2 to sell the shop? Do we have to go to court for this?

It is unlikely any of the other 2 would be able to buy over the shares of the other 3. So the only option is to sell?

What is the process of doing this?

Good life

the property title have all 5 names in it??

if yes. kinda needed everyone approvals in writing to sell... no such thing as majority rules....

Need all 5 co-owners agreement to sell.

If the poorperly is under loan, could allow it to default and let bank to auction.

This post has been edited by icemanfx: Apr 1 2023, 06:46 PM

It's an inheritance with no mortgage and the 5 siblings are well into their 60s-70s.
It's gonna be a cluster-f if one of the kicks the bucket cos even among themselves, they can't decide what to do with it.

Is it worth going to court to force a sale cos it's gonna be a ticking time bomb later on when some of them passes n their share being further divided among their children?

Hard choice...

But need everyone the 5 siblings to discuss on next action... Negotiate & slow talk to find solution.... No other way....

I know sone of these people have like feelings towards the property... Like sentimental reasons... Later on big problem like u say...

Because in my dad side family have the same issues... And got like 12 people qualify & they all over the world... US, UK, Singapore, HK, Australia & Canada.... Really messy situation... Lucky one of them is lawyer... So little easier... Agreement & documents all done online summited 😏💪

btw..
If property below 2mil valuation...
Little less headache

More..
Then high courts involved...
More messy & longer period with quite sum of money involved since needs involved lawyer too...

Yeap one or 2 are against the selling of the shop due to sentimental value. I'm just worry it's gonna be a bigger shit show later on (it's kinda is as of now).

Is there a way to file a request for the court to force the sale? I would expect the ones would quickly fold if someone initiate a legal action to request the court to intervene.

So far I know...
No other choice

U might try trying to talk with lawyer and see got solutions

You can't force people to sell their properties. Maybe they want to leave the properties to their children. You can do nothing about it.

i know one case like that where the properties got 15 owners because the children of the original owners inherited.

No other way, you need to convince all the 5 co-owners to sell. You best example will be the abandoned properties with no one to take care or handle at the later stage. You just need to talk in convincing manners to the other 2.

1) To sell a co-owned property is very hard. It is hard at present, it will be same in the future.

2) If really want to leave something to the next generation, leave something less troublesome. If they left something they can see but cannot touch, you think the next generation going to be thankful ? They next generation will just said, since it is so troublesome, just let the property left unattended & eventually will be land back into government agency due to outstanding taxes.

3) The younger generation will not value to sentiment because they never live there & they are not going to live there in the future. It is even unpractical to live there with so many branches of next generation.

They sell now, at least they can enjoy the fruit of the inheritance / leave the inheritance in other form to the next generation.

They don't sell it - worst case it will become unattended property. The next generation want to sell also cannot coz it is so hard to locate the owners. Ended up, sentimental = 0 value.

Maybe they will leave a sad story as a lesson to other ppl with so much emotion on sentiment.

Well said..

These kind of problem really headache

No wonder u see these unattended & abandoned properties in IPOH, Some parts of CBD of Penang & others major towns... Especially the old classic buildings.... Too much multiple owners.... All don't bother anymore... Eyesore to the areas...

Easier said than done.
Those abandoned properties are there because the property value did not excite (a.k.a. low price, not worth the time and efforts) the co-owners. If the property value is high enough, the co-owners will rush back even from Timbuktu to settle whatever differences.

Nop, pay them 5x the amount of their share then they woll sell. If not they can hold on till their great grandson has inherited the property

If you see no amicable solution among the 5 owners, find another that will not give you headache, waste time and money. Move on

This post has been edited by hedfi: Apr 4 2023, 06:05 PM

I think there's some context that was lost in the initial post. If my parent is one of the 5 owners of the property, can they, along with other 3 siblings, go to court to force the other 2 to sell it since there's 3 siblings who wanted to sell?

No you can’t unless if still under mortgage let the installment default and bank will foreclosure the property

Simple answer is NO.

If that is the case, all 5 co-owners will be blacklisted by the banks and etc..