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Forced Sale |
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Ms. Lank, In regards to the letter about forced sale for division when the owners can't agree, there may be another alternative. The party wishing to sell can offer his interest to the party not wishing to sell. Each can obtain an appraisal and then a fair price can probably be agreed upon. I have participated in this type of arrangement on several occasions and there are a lot less ill feelings involved |
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Your solution is a good one. It will only work, of course, if the one who wants to keep the property has the cash to buy the other out, or can raise the money through a mortgage. As I said originally, a court-ordered sale with division of the proceeds should be a last resort. |
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Edith
Originally published on June 18, 2005 |
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