Southwest Illinois | TheBonePile - 3/25/2024 11:04
I am not realy so sure just because someone wants out they can cause a force to sell.
The executors job is to transfer the assets a person has as they want them passed .
It doesn't says anything about converting anything to cash and dividing.....
Some peoples desire to give multiple ownership to give their families a reason to talk and maybe stay together and bond.
Not sure about the location, but even a fractional owner can file a suit of partition to force the sale and divide up the funds. Would cost a little money to do it. The executors job it to follow the will. If it does not specifically direct to sell the executor can issue all benis a deed for their interest. The reality is if no one has any money to buy the others out it would make a lot of sense for the executor to get the property appraised and sell and then distribute the cash. Once you issue fractional interest deeds the costs of selling will likely increase since getting multiple owners to agree can be a challenge. Plus, now you have multiple deeds, multiple signatures on closing documents, etc. |
Selling Shared property
