Mr. Ferro has handled NJ partition sales. Unfortunately, most of these involve family members and become similar to two or more individuals divorcing to break up their legal joint obligations in a property. When there are two or more joint owners of property, they both own the property with equal rights unless a separate agreement has been set up.
If at any time, one of the owners desires to sell the property, they do not necessarily have to gain approval of the other owner(s). When only one owner wants to sell and the other owner does not want to sell, a legal partition may be necessary to force one owner to either buy out the other owner or put the property up for sale. Partition is a right by law in NJ Real Estate Law.
Mr. Ferro has handled partition sales involving brothers and sisters as well as sons and daughters and their parents. After much arm wrestling and fighting by the party who does not want to sell the property, either the property is sold or the other party has to buy the other owner out.
Mr. Ferro’s approach is to try to work through the partition without costly court intervention, but many times a formal court complaint is necessary. If you are faced with partitioning of property, call Mr. Ferro (201) 446-5904 to begin the process of partitioning property that you own jointly.