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Re: Brother ownership
by Garry
on February 8, 2020 @10:04
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Neither of you can sell the physical structure without both of you agreeing to it, in writing. That's because there is only 1 legal description of the entire property, and you both own it. However, your brother can sell his "INTEREST" in the property to anyone he can find to buy him out. It would all be on paper, and he would need a lawyer to do it. You would still own half of the building, and a different person would own the other half----on paper.
If he wants to try to sell his half interest, let him. If he finds out he wants too much for his half, or there are just no buyers out there for what he proposes, maybe you would want to step in, and if he really wants out, you can offer him half of what he wants for a sales price, and see where it goes from there.
Partnerships are fine------to a point! Only about half of them ever work out. Once disagreements start to happen, it's time to sell.
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Re: Brother ownership
by Brad
on February 9, 2020 @15:05
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Actually, either one could file a partition lawsuit and force a sale of the property.
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