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I am the half owner of a property. Can i sell my interest? How best can this be done?
New York, NY
Viewed 8 times.
Posted 21 days ago in Real Estate
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Tjis property is a brownstone in NYC.
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Answers (1)Ellen A. Victor
This attorney is licensed in New York.
Posted 20 days ago.
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That would really depend on how you hold the property with the other party, and the nature of the property. If you are married, you could not sell half. Or you can hold property with a non-spouse either joint with rights of survivorship or joint tenants in common. There may be an agreement where one party has the right to buy out the other party. It might depend if this is property one of you is living in, or if it is an investment property. Selling 50% of a property could be very difficult and hard to market.
I would advise you to seek the advice of an attorney to look over the type of ownership and advise you of your options. Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
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