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I Want to Sell My 50% Ownership of a Home

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  • 06-24-2008, 09:44 PM
    kkc2007
    I Want to Sell My 50% Ownership of a Home
    My question involves real estate located in the State of: CA
    I own 50% of a home & I want to sell it & try and purchase my own separate home. The other 50% owner of the home is unsure if they want to buy it, if I can't sell it to that person how can I sell part of a home. We both live in it - one in the original home (1950's) & myself in an addition (1980's). It's still 1 house & my side is unable to have a stove (I use a toaster oven for a family of 4). If the other owner chooses not to buy, are there buyers out there who purchase 50% of homes or am I left w/ no choice but to remain here.
    Thanks.
  • 06-26-2008, 09:42 AM
    Mr. Knowitall
    Re: I Want to Sell My 50% Ownership of a Home
    As I see it....

    If you can find somebody willing to buy out your interest, you can sell your interest. If you do that, I would not expect to get anything close to 50% of market value of the home.

    You can hire a lawyer and sue for partition and sale. That will probably cost $10-20,000, and may take a very long time to resolve.

    You can try to convince your co-owner to let you buy out your co-owner's interest.

    You can convince your co-owner to buy out your interest.
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