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asmaddux · Jan 19, 2011, 05:27 PM

Our family owns 2 parcels of real estate with another family member that lives out of state. Our family has always paid the property taxes with no help from the out of state relative. However, the relative has always received any monies made from timber sales. The have reaped the benefits but paid nothing as far as the upkeep on the property. Now this relative wants to cash in their 1/3 of the property. We can't afford to buy them out. Do we have any standing in court because we own 2/3 and have always paid the taxes? We want to be fair, but our family has always lived on this property and the relative's family has never and it means nothing to them. They just want their money. HELP! Advice anyone? Stressed in Georgia

AK lawyer · Jan 19, 2011, 05:44 PM

Originally Posted by asmaddux

... Now this relative wants to cash in their 1/3 of the property. We can't afford to buy them out. Do we have any standing in court because we own 2/3 and have always paid the taxes? ...

How does this distant relative propose to "cash in" his or her 1/3 interest?

An action for partition would be the way to do it, in which case you could ask for credit for their share of taxes paid by you over the years, plus interest.
Or is the relative simply going to sell a 1/3 interest to someone else. The new owner would still need to bring a partition action to get any cash.

Fr_Chuck · Jan 19, 2011, 05:50 PM

They may sell their 1/3 ownership to someone else,

You may get a loan and buy out their share.

If you are living on the property, have you been paying them rent for the value of their 1/3 ownership.

You just paying the taxes only means you did not work out a plan with them, like a escrow account when timber is sold to pay the taxes.

They may sell their share if they want.

asmaddux · Jan 20, 2011, 03:06 PM

Thank you for your response. We hope they will not sell to anyone else. We are going to try and keep it in my immediate family for as long as we can. Thanks.

asmaddux · Jan 20, 2011, 03:17 PM

My immediate family has been living on the property since 1956. The 1/3 only inherited it about 10 years ago. We own 2/3 through inheritance. Thanks for your response.