Posted on: 15th Jan, 2009 10:14 am
Selling a co-owned time share when one party does not want to sell...If there are 3 parties that are listed as co-owners on a timeshare, and 2 of those 3 owners want to sell, but the 3rd owner does not- what legal rights to the other two have?
Welcome stareyes,
While selling off the property, all the three owners will have to sign the deed. If one of the owners is not ready to do this, then the other two can buy him/her out. This means that other two owners should offer him/her a certain amount and ask the person to sign away the property to them. If the person is not ready to do this, then the other two can go for a partition law suit.
While selling off the property, all the three owners will have to sign the deed. If one of the owners is not ready to do this, then the other two can buy him/her out. This means that other two owners should offer him/her a certain amount and ask the person to sign away the property to them. If the person is not ready to do this, then the other two can go for a partition law suit.