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View Full Version : Selling my interest in a commercial property I co-own


leeg328
Jan 27, 2009, 04:34 AM
My brother and I purchased a commercial property from our father about 16 yrs ago and we had our business in it up until about 5 yrs ago. I work somewhere else now and he is running a business in it. There is only about $3000 owed on it now and I am trying to get him to buy me out but haven't gotten anywhere with him. Is it possible for him and my father (the mortgage holder) to somehow maneuver without my knowledge and have me removed from the deed?

excon
Jan 27, 2009, 06:56 AM
Hello leeg:

Nope - certainly not a LEGAL way... But, you can certainly check with the county records office... Or, if you think something untoward is going on, AND YOU DO, then I'd hire a lawyer.

excon

ScottGem
Jan 27, 2009, 07:48 AM
Yes get a lawyer who can advise you on how to force a buyout.

leeg328
Feb 1, 2009, 06:20 AM
OK, if they can't remove me from the deed w/o my knowledge then what are my options as far as forcing him to buy me out

excon
Feb 1, 2009, 06:35 AM
Hello again, leeg:

Both ScottGem and myself suggested hiring a lawyer. I haven't changed my mind.

Look, I LOVE to help people DO legal stuff by themselves. I only suggest it, though, when the stuff is DOABLE. When it's NOT, I don't. The trick is to distinguish between what's DOABLE by a rookie, and what's NOT doable by a rookie.

YOUR situation is one that ISN'T doable by a rookie. Even if it was, the stakes are SOOOOOO high, that it shouldn't even be attempted. That would be because you could LOSE a lot more than a lawyer would cost...

PLUS, if a lawyer did it WRONG, you could sue HIM. If YOU do it wrong, you're just out the money.

excon