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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 4 years ago

Real Property Law?

Can one of two owners of a property held by tenancy in common raze a house if the other is willing to pay a sum to buy it from the other owner?

Thx.

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  • 4 years ago
    Favorite Answer

    No. Both answers so far are wrong. A tenancy in common means that each tenant owns an undivided interest in the property. This means that one tenant can transfer their interest to another person or entity by sale, gift or will, and the other tenant has no say in the matter. But one tenant cannot destroy another tenant's interest in that property by literally destroying it. Both parties will have to agree to it.

    Unfortunately, many governments that give out permits are lax about checking the ownership status. One tenant could possibly get a permit to raze a structure. The other tenant would have to sue to stop it, seeking immediate injunctive relief if there's time. If not, they must sue after the fact and collect (or try to collect) damages.

    So, if you suspect that this could happen, get with an attorney and seek injunctive relief now, then serve notice of it not only on the other tenant, but with the authorities that grant such permits.

    You can attempt to buy the other tenant out. They can refuse. You can sue for a partition sale and force a sale of the property. This, unfortunately, doesn't get you what you want, because you are also out, and with less money because partition suits are expensive and the only ones who win are the lawyers. What money you do get out is eaten into by fees. The other tenant may do the same, and that would be your opening to buying their interest at fair market value. At that point, they can't refuse a fair offer or their partition suit is dismissed.

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  • 4 years ago

    1

    Source(s): Property Records Search Database : http://PropertyRecords.oruty.com/?ebo
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  • Donald
    Lv 7
    4 years ago

    Sure. As kj566 says, so long as it's permitted by the city or county.

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  • Anonymous
    4 years ago

    They can do anything they want (with required permits) if they agree on it.

    • curtisports2
      Lv 7
      4 years agoReport

      Did you read the question? There is no agreement.

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