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3rd party claim on shared property

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  • 3rd party claim on shared property

    I have a share in a house along with my father (who owns half and lives there) and my two siblings with whom I have equal shares in the other half. Can you tell me what would happen if one of my siblings were to be made bankrupt or divorce or become heavily indebted. Is there any chance that the house could be sold to repay creditors without the permission of the co-owners?
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  • #2
    Yes, there is. Any Co-owner is entitled to have the property sold, so that he can receive his share of the sale proceeds. He would need a court order, and it’s likely that the court would want the other owners to have a chance to buy him out at a fair price.

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    • #3
      Thanks for the reply. I understand that a co-owner can ask to sell and get a court order to do so but can creditors force a sale unless at least some co-owners agree?

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