How can I sell a property that I only own half of

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Guest: Uh, I’ve got a piece of property in Detroit and, uh, I own 50% of it. I’m wondering if there’s any way to sell my half.

Brian: Are you a joint tenant or are you a co tenant?

Guest: That’s a good question. How do I, how do I figure that out?

Brian: You gotta look at the deed, but how did you get the property,

Guest: uh, inherited

Brian: and what was it? Was it, uh, uh, uncle’s home parents home sister and what it was it,

Guest: uh, no, it’s a parent’s. It’s a vacant lot.

Brian: It’s a vacant lot. You inherited it through the will or was your name on the deed?

Guest: Yeah, the names. Uh, there’s, there’s my name on the deed for 50%, and there’s, uh, two other names on the deed for the other 50%.

Brian: So that probably means your tenants in common, which means that you can file a, a, what do they call it?

Justin: A partition.

Brian: A partition. Action. Justin, tell us all about that.

Justin: Yeah, you can, you can. Four, try to force the sale by, um, partitioning off the property and you’re selling your portion or forcing them to sell it. Do they have any interest in buying you out? That’s usually the easier way cause less costly.

Guest: Well, no, they uh, they’re, they, they live, uh, there’s two sisters and uh, they’re retired and living in Greece and uh, they, you know, they, they’re not interested in buying me out.

Justin: Should just sell it. The market’s pretty good right now in Detroit. He might not get higher prices than you get now for a vacant lot in Detroit. So maybe, uh, maybe run that by them. Yeah, you can, you can force a partition in the sale and didn’t try to sell it that way if you want to. But again, I talked to them first and see if you can get them onboard with maybe selling it and let them know what’s going on in Metro Detroit and that the prices are as high as they’ve been in a long time and you couldn’t give away a vacant a vacant lot in Detroit five, six years ago. Now they’re selling. So there’s people who will buy them. Yeah.

Brian: Did answer your question for you, John?

Guest: That answers it.

Brian: All right. If you need more help, just give a call to Justin Case. He is a really good at real estate and he’ll take good care of you.