Monday, August 11, 2008

Can anyone tell me what the name of the correct lawyer would be to see if i needed legal advice regarding? -

equal co-ownership of a house? i and my 2 sisters equally own a house my mother left to us after passing away and i dont live there (they do), nor am i receiving any rent from them. I want out! i need to know my rights and options in terms of being bought out. What kind of lawyer do i consult exactly?

I see two options for your consideration. An attorney who specializes in real estate and most telephone books will break down attorney s by specialty. Attorney can get expensive as they work on an hourly fee. It may be possible that litigtation could occur. The other alternative is if the all of you are willing to do mediation and there are mediators that specialize in real estate matters. A good website is http://www.mediate.com and mediation is less expensive and the mediation can bring often a settlement between you and your sisters quicker. Best to you.

a real estate attorney will help you, you can either require the the other parties to buy you out or you can force the sale of the house

You need a real estate attorney. It s called a partition action. While you aren t getting any quot;rentquot;, you are gaining equity while they presumably pay all the taxes, other expenses and upkeep on the property. You may want to just take a step back and look at this whole thing from a practical viewpoint rather than the emotional stance of quot;they are getting something and I m notquot;. There are a lot of things to consider... such as the age and condition of the property, the value of the property, the costs involved in the upkeep (taxes, insurance, utilities, regular maintenance, service contracts, yard work, replacing the boiler or hot water heater or anything that breaks, appliances, etc). It may make more financial sense for them to pick up the tab for everything and live there while you sit back with no worries or expenses and know that you have equity building that at some point you will be able to collect on.

you need to contact a real estate attorney. They could very likely arrange a sale of your share to your sisters (if they are able) or start proceedings to force a sale. Could get ugly...

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