Updated on April 9, 2024
When it comes to jointly owned properties, a common question that often arises is whether one owner can sell the entire property without the consent of the other owners.
The answer to this question is not always straightforward and can depend on various factors, including the type of ownership and state laws.
In this article, we will introduce the intricacies of joint ownership, common occurrences surrounding the sale of jointly owned property, potential solutions to disputes, and the role of a real estate attorney in navigating these complex situations.
Joint ownership of property can take different forms, including joint tenancy and tenancy in common. In joint tenancy, each owner has an equal share of the property, and if one owner passes away, their share is automatically transferred to the remaining owner(s).
In tenancy in common, each owner has a distinct share of the property, which they can sell or transfer without the consent of the other owner(s). Learn more about joint tenancy vs tenancy in common here.
In a joint tenancy, one owner typically cannot sell the property without the consent of the other owner(s). The property must be sold by all owners together.
However, in a tenancy in common, one owner can sell their share of the property without the consent of the other owner(s).
This sale does not affect the ownership rights of the other owner(s).
Interestingly, in either situation if one of the co-owners desires to sell the entire property in order to get the highest value for their share through a complete sale, they can usually do this through a forced partition sale of the property.
Please see our partition blogs for more information.
In conclusion, while one owner typically cannot sell a fractional interest in a jointly owned property without the consent of the other owner(s) in a joint tenancy, they can sell their share in a tenancy in common.
Disputes over the sale of jointly owned property can be challenging, but with effective communication, negotiation, and legal assistance, co-owners can find a resolution that works for everyone involved.
If you are facing challenges related to the sale of a jointly owned property, consulting with a real estate attorney can provide you with the guidance and support you need to navigate the process successfully.
If you own property in California and the above scenario sounds like yours, you can contact our office today and set up an appointment to speak with our highly specialized attorneys at Schorr Law. Call us at 310-954-1877 or visit our contact page to set up an appointment here.
At Schorr Law, we have handled hundreds of partition actions and co-ownership disputes and we can help you navigate the sale in an efficient manner.