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. However, to do so you would need to apply to a court for an “order for sale”.
What does it mean to own property as tenants in common?
Tenancy in common is an arrangement where two or more people share ownership rights in a property or parcel of land. The property may be commercial or residential. Also, the tenancy in common partner has the right to leave their share of the property to any beneficiary as a portion of their estate.
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. Whatever your position, you will need to seek independent legal advice if you decide that forcing a sale is the way to go.
Can a tenant in common sell the property?
Always be cautious if you’re considering selling mortgaged property at a loss. A tenant in common may not have control over the entire property, but he does have autonomy over his own share. If one tenant in common wants to sell his ownership, he may do so.
What to do if your brother wants to sell your house?
If you and your brother each own half of a house and he wants to sell, you may determine the fair market value of his share and purchase it from him. If you do, you take over his share and now own the entire house. Your brother doesn’t have to sell to you, however. He can sell to whoever he likes.
When do you become a tenant in common?
When two or more people share ownership of property, the co-owners become tenants in common. If, for example, you and three friends bought a vacation home together, you would all become tenants in common.
Can a brother force me to sell my father’s cottage?
A You may be thrilled to hear that your brother can’t force you to sell your father’s cottage. The sale of a property inherited by more than one person cannot be undertaken without the agreement of all – or both in your case – the owners of it.
