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Does equitable rights and interest mean someone has partial ownership of a property and can legally sell it to another buyer?

Chicago, IL |

Can someone with equitable rights and interest sell their partial ownership to another buyer here in Illinois?

Can I sell my partial ownership myself or do I need a real estate agent?

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Attorney answers 2


Your question is a little confusing. Generally a partial owner in real estate can sell their interest to a buyer (if you can find one). A real estate agent is not needed, but it would be foolish to act without the counsel of a real estate attorney.

Your question appears to be a real estate question, so I have changed the category accordingly to attract qualified attorneys.

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There are a number of ways you can have an equitable interest in real estate. Two common ways would be to be a contract purchaser or a beneficiary under a trust. You can sell any interest you have in real estate, but the question is, will someone be interested in buying only part of the "bundle of sticks" which comprise interests in real estate. You would not need a real estate agent, but I cannot stress enough the importance of having a real estate attorney represent you.

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