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Asked on July 13, 2015 under Real Estate Law, Rhode Island
Answered 9 years ago | Contributor
When co-owners of real estate cannot agree as to ownership matters, there is a legal remedy called "partition". Pursuant to such an action, if the court can equally divide the property it will do so. However, if the property in question cannot be divided as a practical matter (such as when it is a house) then the court will order a sale. However, the party who wants to keep it will have to offered the them first. They can then buy out the other party at fair maket value. If they can't or won't purchase it, then the property will be sold on the open market and the proceeds will be equitably distributed.
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