Note: BCP Real Estate is not a law firm and its employees/owners are not acting as your attorneys. The information contained on this website is provided for educational and informational purposes only and should not be construed as legal advice on any subject matter.
This is one of the most common questions we hear from people who’ve been served with a tax lawsuit.
“I want out, but my brother won’t cooperate. My sister won’t return calls. There’s a cousin we haven’t talked to in twenty years. Doesn’t everyone have to agree before I can do anything?”
The short answer is no.
When a property gets passed down to multiple heirs without probate, each heir typically receives an undivided interest in the property. That means everyone has a fractional ownership stake, but no single person owns a specific piece of the property.
Selling the property as a whole on the open market does usually require everyone to be in agreement. Every co-owner would need to sign off, and an attorney would typically draft up the paperwork to coordinate the sale. That’s where many families get stuck. One holdout can freeze the entire process, sometimes for years.
But selling your individual portion is different. You’re not selling the property as a whole. You’re just selling your portion. Your seat at the table. And that doesn’t require anyone else’s agreement.
Once you sell your portion, you’re taken out of the lawsuit. You’re not associated with the property, the taxes, or the lawsuit anymore. The other co-owners can deal with the rest however they choose.
This is the most common reason people work with us. They want to be done with the situation, but they can’t get other family members to cooperate. Selling their portion gives them a way out that doesn’t depend on anyone else.
If you’re looking to remove yourself from a lawsuit and get paid for your interest, no cost to you, call or text us at (469) 708-8003 for an offer today.
Leave a Reply