Buying or Selling a Home/Tenants in Common

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Question
In Michigan; Home was purchased by 3 couples (as Husbands and Wives)as Tenants in Common - a Mom & Dad, their son and his wife, and their daughter and her husband. Son divorced, and later Mom & Dad bought out his share. Daughter and her husband divorced. (So now only Mom & Dad and Daughter have interest) No Quit Claim(s) were ever recorded. (So thus all 6 original persons are on the current Deed)I figure a Quit Claim should have been executed when the son divorced removing the daughter-in-law, then another one executed removing the son when Mom & Dad bought out his third, and a third one executed when the daughter divorced.What if one of the persons cannot be found or refuses to sell?

Answer
Then it's a case for Super Attorney. A REAL ESTATE attorney must now handle this, because of the contorted mess it has turned out to be. This is not going to be an inexpensive matter, either, Steve. The attorney is going to have to take this before a judge to take care of the person who could not be found or refuses to sell. It sure would be nice and simple if the three people (if that who is left on title) would obtain separate quit-claim deeds from any and all others. It sure would save a lot of money.

If the property has a mortgage and any or all of those people are responsible for payment, then you got that to be concerned about. The attorney I am sure will address that. I do wish you well.

Dick Dennis          dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

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Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

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e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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