My siblings and I own 25% of my Grandparent's estate. The other 75% is owed by my Aunt, who is the only living child of my grandparents. I have POA regarding the sale and disposition of the property from my brother and sister, so I act as their representative. The property in question, which was once considered very valuable, has been on the market since December 2011 and has had 1 offer. I have been researching property values and prices and believe the price is too high, but my aunt and her chosen realtor (who was also the property appraiser and has frequent conversations with my aunt that do not include me or my siblings) insist the price is OK. I believe we are at an impasse and would like to consider a petition for partition.
The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.