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Georgia Court Forms for the Petition of Conservator for Leave to Sell Property or Rent, Lease, or Otherwise Dispose of Property
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How to fill out Georgia Court Forms For The Petition Of Conservator For Leave To Sell Property Or Rent, Lease, Or Otherwise Dispose Of Property?
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FAQ
You can obtain a court order to sell a co-owned property if the court finds you have a compelling reason to sell.The court can't divide a house in half, so instead, it can force owners to sell, even if they're unwilling. Profit or loss from the sale is divided among the owners based on their stake.
The petition to partition is a legal tool designed to resolve disputes between co-owners. Its outcome is a court-ordered physical division or sale of the property for fair sharing of proceeds among co-owners.
A petition for partition happens when one of the property owners pushes to sell a co-owned property to get their share of proceeds from the real property.
If one wants to sell and the other does not, the one who wants to sell can sell his interest anyway.If there is a mortgage on the property, the lender will take the property if payments are not made but will not take a 1/2 interest in the property if your brother decides he just does not want to pay any more.
In short, to force the sale of jointly owned property, you must first confirm title, then attempt a voluntary sale or buyout, file and serve a partition lawsuit, get an appraisal, sell the property, and finally divide the sale proceeds fairly.
Short answer is all must agree to sell the property. Each can individually sell their interest but that just makes someone else a 1/3 owner. You can force sale via a partition suit.
How long does it take to process a partition action? It generally takes about a year and half to two years to get to trial on a partition action.
A petition for partition can take 6 months to one year if ordered sold at the courthouse. The parties can always decide to sell through a realtor and the time will depend on when a buyer makes the offer.