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  1. #1
    Join Date
    Jul 2008
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    2

    Default Shared Property Ownership

    My question involves real estate located in the State of: Wisconsin.
    My brother and I own approx. 23 acres of hunting land together. We have owned this land for over 15 years. We have had an arguement and haven't spoke for over 2 years. Now I got a letter from a lawyer telling me that my brother wants to sell the land and divide the money accordingly. I do not wish to sell my share, and he will not let me buy his half unless I agree to an outrages amount. Can I be forced to sell this property?

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Shared Property Ownership

    depends how title is help and a few other things.

    in many cases, yes, you can be forced to sell.

    unless I agree to an outrages amount
    is this outrageous amount greater than fair market value or appraised value?.

    have you offered to split the property half and half?

  3. #3
    Join Date
    Jul 2008
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    2

    Default Re: Shared Property Ownership

    I am not sure how title is held, but we own about 100 acres together if I include all parcels. I don't know how or why he should be able to pick out 1 parcel and try to get me to sell this one and not the others. My only thought is that he wants to keep the others, mainly because they are lakeshore properties. But the reason he wants to sell this one is based on his statement to his lawyer that we don't get along and it would be in everyones best interest to sell. So, do you understand my question? If this statement can force us to sell this parcel, then we can also use it to force him to sell all of the parcels. Do U agree? We don't want to sell any of it. It is for my children.

  4. #4
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Shared Property Ownership

    If this statement can force us to sell this parcel, then we can also use it to force him to sell all of the parcels. Do U agree?
    yep.

    it's a shame that the two of you may end up injuring your relationship even more and throwing away much of the value you have in these properties just to spite one another but, it's your money.

  5. #5
    Join Date
    Jul 2006
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    5,437

    Default Re: Shared Property Ownership

    Quote Quoting tarts052
    View Post
    I am not sure how title is held, but we own about 100 acres together if I include all parcels. I don't know how or why he should be able to pick out 1 parcel and try to get me to sell this one and not the others. My only thought is that he wants to keep the others, mainly because they are lakeshore properties. But the reason he wants to sell this one is based on his statement to his lawyer that we don't get along and it would be in everyones best interest to sell. So, do you understand my question? If this statement can force us to sell this parcel, then we can also use it to force him to sell all of the parcels. Do U agree? We don't want to sell any of it. It is for my children.
    File a partition suit.

    The court will sell it at the courthouse steps.

    You (or anyone else) can bid on it.

    It will be three years (if quick) and $30K (if cheap).

  6. #6

    Default Re: Shared Property Ownership

    If he tries to force you to sell this parcel, then you can add the other parcels to the suit and force a sale of it all. This will involve a lot of time and expense on both of you. Much better to split the properties. One can divide and the other can chose.

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