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Home stead law

Discussion in 'Joint Ownership' started by Daryl Altenberger, Aug 6, 2019.

  1. Daryl Altenberger

    Daryl Altenberger Law Topic Starter New Member

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    Jurisdiction:
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    Me and four of my family members own 134 Acer's.. three of them want to sale. Under petition to partition. I know.. what I want to know is. Can I keep the house and some land.. I am the only one that has lived on the farm more than 20 years.I am the only one that has taking care of the place.
     
  2. adjusterjack

    adjusterjack Super Moderator

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    Sure. You can buy a parcel of the property from the other owners.

    Means nothing. You lived there for free in exchange for taking care of the place. You're even. If you aren't, you should have made a deal for compensation 20 years ago. Too late now.

    If you are wondering why you would have to pay for something you already own it's possible that the land without the house could be worth substantially less than with the house and you would have to make up the difference to the other owners.
     
  3. army judge

    army judge Super Moderator

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    The problem with having multiple owners on deed is that if discontent arises among the owners, it only takes ONE to initiate a forced sale and division of the proceeds among the owners.

    If you wish to RETAIN sole ownership you can try to buy the property rights from the other owners.

    If the owners get a higher offer from a stranger, well I think you know what that means for you, mate.
     
  4. mightymoose

    mightymoose Moderator

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    How did you come to be in possession of the home for the last 20 years? Was this an inheritance left to surviving children? If so is there anything in the will that addresses occupancy and sale?
     
  5. zddoodah

    zddoodah Well-Known Member

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    One would need to review the relevant deed(s) and property map(s), but just about anything is possible in the abstract. It may be that you'd need to subdivide the property in order to carve out a chunk for you to keep. Obviously, you'll need to speak with your family members to see what they're willing to agree to. My guess is that, if it's come to the point where they've filed a partition suit, the relationships are not good. I suggest you retain the services of a local attorney.
     

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