Strategic Alliance Real Estate Investing

How Do I Sell a House When Others Own It Too?

Here’s a good question for a real estate attorney: How do I sell a house when others own it too? SFGATE writes “Before you can sell a home you co-own with others, you’ll need to obtain their agreement. If your fellow owners agree, you can proceed with a sale. You don’t need a real estate broker or attorney to sell your jointly-owned home, but retaining one may make things easier. Also, all co-owners of your home will need to sign certain real estate and deed transfer documents.

Selling co-owned property has become an increasing problem for many U.S. homeowners in the last 10 or 11 years. Properties have changed hands multiple times, people have been added onto title deeds, families and couples have split, and siblings have been left property by parents. All of this can complicate the title of a home and present some possible issues when selling your house.

How Do I Sell a House When Others Own It Too?

The short answer to the question (How do I sell a house when others own it too?) is you can’t! If you and your spouse, civil partner or partner own your home together, meaning you both are on the deed, neither of you can:

  • force the other to leave without a court order
  • rent out or sell the property without getting the other’s agreement or a court order
  • take out a loan against the property (for example, a second mortgage) without the other’s agreement.

Some may not realize other parties are considered part owners to their properties. Others think if they don’t mention it that it won’t be noticed. Some really need to sell houses for a variety of reasons. They are unable To find these other parties or can’t get them to agree to sign the paperwork.

Every owner ought to act in good faith, even if they are in a tough spot. More importantly, they certainly shouldn’t think they will be able to fool anyone long enough to get through to closing. At some point, buyers are going to have a title search done and figure it out.

What is an Occupation Order?

If you are living in a house with a spouse, or civil partner and your name is not on the deed, and are told to leave, there is an occupation order available in which a court can enforce or restrict some rights for a temporary period until a long-term arrangement has been agreed to by you and partner or by the court if you can’t reach an agreement. An occupation order can, for example, specify who can live in the home or order a joint occupant to leave.  The court may be reluctant to make an occupation order unless there has been domestic violence or where one person or children living in the home, are likely to suffer harm without the court’s intervention.

How Do I Sell a House When Others Own It Too?

However, that doesn’t mean you should give up on selling. There is help available, and selling your house could be easier than you think. One option is going to a title company or a real estate attorney in San Antonio. You may find the house registered as tenants in common rather than joint tenants. That means you could sell your part ownership.

One tip for selling your house is to approach a local real estate investor who is actively buying homes. They might provide assistance, bear the brunt of the work to convince the other party it is in their best interest to sell or perhaps cover the cost of an attorney to do it. Be transparent, ask for assistance and you’ll find it.

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