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Force a sale on a property with multiple owners., Is court the only way?
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TSperseides
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 Apr 1 2023, 01:19 PM, updated 3y ago
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Getting Started
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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?
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TSperseides
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Apr 2 2023, 11:32 AM
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Getting Started
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QUOTE(nexona88 @ Apr 1 2023, 01:59 PM) 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.... 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? |
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TSperseides
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Apr 2 2023, 11:58 AM
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Getting Started
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QUOTE(nexona88 @ Apr 2 2023, 11:53 AM) 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 😏💪 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. |
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TSperseides
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Apr 9 2023, 11:21 AM
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Getting Started
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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?
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