7 person owned home and property - Posted by Margaret Toma

Posted by Jimmy on August 22, 2006 at 07:28:20:

yes, a co-owner is free to transfer his or her partial interest, unless these is an enforceable agreement among the co-owners which says otherwise. but selling partial interests is very difficult, because you have very few interested buyers.

no, a single co-owner cannot force the others to sell. with that said, a co-owner may try to invoke a partition lawsuit. one of the remedies available on these actions is a judicially supervised sale of the property. expensive proposition.

yes, a co-owner can transfer his or her share to a charity

7 person owned home and property - Posted by Margaret Toma

Posted by Margaret Toma on August 20, 2006 at 15:32:53:

Home and property are owned by 7 people as follows: one person 1/4 undivided interest; one person 1/4 undivided interest; one person 1/4 undivided interest; and 4 persons with equal (1/16) shares of the final 1/4 interest. The one person in question received her portion following her husband’s death via Quit Claim Deed and her deed reads, “…Undivided 1/4 interst in…” Her 1/4 interest is in a revocable trust for her children. Can she sell her 1/4 interest without the consent of the other owners? Can she force the sale of the entire property without the consent of the other owners? They each hold their own deeds for their portion of the property. The person in question’s deed does not state in partnership or joint tenancy, etc. Can she deed her portion to charity?