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Updated over 1 year ago on . Most recent reply

User Stats

31
Posts
11
Votes
Ashton Fry
  • Investor
  • Jacksonville Beach, FL
11
Votes |
31
Posts

Multiple Hiers!? How to force a sale with majority

Ashton Fry
  • Investor
  • Jacksonville Beach, FL
Posted

Good afternoon, I am in communication with a seller who is a part owner in a MFH. She is 1/7 owners and her other three sisters want to sell too. This would give me 4/7 owners that want to sell the property. I have heard that a lawyer can force the sale of a property with multiple hiers want to sell. 

How does this work? Anything I need to be mindful of? Any other idea for acquiring property?

Thanks!

Ashton 

Most Popular Reply

User Stats

31
Posts
11
Votes
Ashton Fry
  • Investor
  • Jacksonville Beach, FL
11
Votes |
31
Posts
Ashton Fry
  • Investor
  • Jacksonville Beach, FL
Replied

@Kevin Sobilo Thank you for responding! Partition action is what I was thinking of! The property is under the heirs names as of 2021 so I could buy out 4/7 heirs. Would percentage of ownership matter in a partition sale? The owner I spoke mentioned she had 3.5%. 

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