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Sam · Posted: Thu Apr 08, 2004 3:23 am Post subject: Undivided Interest

Undivided interest in the property includes the title to the real property held by two or more individuals. But the interest of each party in the property is not specified either in percentage or in description of a part of the property. Undivided interest is common among joint tenants, tenants in common and tenants by the entirety.

Example: Samuel, George and Rodger jointly own and use a property in New Jersey. The proportion of their shares in the property is thus known as Undivided interest.

You can request for separate taxation of undivided interest in property, by using the Form given here.

Guest

I own a house with my ex-girlfriend and have moved out.We are trying to sell the house.S he is refusing resonable offers, can I force the sale of the house it's a financial hardship.

Guest

I dont think that you can sell the house without the consent of your ex-girlfriend because both of you jointly own the property. I will advice you to consult an attorney for further clarification.

Zeal_Deal

Posted: Tue Mar 02, 2010 6:20 am Post subject:

say u got 60 heirs to a undivided estate and and only 50 acres to divide what happens

jameshogg · Posted: Tue Mar 02, 2010 10:30 pm Post subject:

Hi Guest,

If there is a will to that property, then the property would be divided amongst the heirs as per that will. You may speak to a real estate attorney and he would help you in getting further advice is this regard.

Thanks

Guest

Property titled as 1/2 undivided interest. Myself and the estate now share the property. Who is responsible for a loan against the property?
The property is being particianed for sale. Will the amount of the loan be deducted from both parties?

jameshogg · Posted: Sat Sep 11, 2010 12:30 am Post subject:

Hi Kennedy,

In my opinion, both you and the estate will be liable for paying the mortgage balance.

Thanks

Guest

my mother and brother owned a farm w/both having 1/2 undivded interest. They both lived in the farm house together and shared utilities My mother passed away without her will being signed so her will is no good. My mother had a small outstanding loan on her half of the farm. Can my bother assume my mother's laon and own the farm solely since they owned the farm together with each owning half undivided interest?

jerry · Posted: Wed Feb 09, 2011 1:56 am Post subject:

Hi Regina,

It will be the lender's discretion as to whether or not he will let your brother assume the loan. However, in order to assume the loan, your brother should meet all the required criteria of the lender.

Thanks,

Jerry

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Undivided Interest