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re: Question about multiple owners of same property in Louisiana

Posted on 4/29/16 at 3:07 pm to
Posted by White Bear
Yonnygo
Member since Jul 2014
13895 posts
Posted on 4/29/16 at 3:07 pm to
Wow, sounds like a hairball mess. Good luck.
Posted by JoePepitone
Waffle House #1494
Member since Feb 2014
10580 posts
Posted on 4/29/16 at 3:15 pm to
Get an experienced land professional based in Louisiana.

We do these things a little differently here.
Posted by TXGunslinger10
Houston, TX
Member since Jun 2011
17995 posts
Posted on 4/29/16 at 3:15 pm to
It's gonna cost you some cheese, but you really should get a title abstract done on the entire 800 acres. Most landman/land services can probably work with you on rates.
Posted by slam627
Baton Rouge, LA
Member since Sep 2005
409 posts
Posted on 4/29/16 at 11:16 pm to
Co-owners own every single piece of that property in in-division.
quote:


They cannot improve the property or lease it without permission of all of the co-owners.

Any co-owner can demand partition.

If the property cannot be equitably partitioned, it can be sold in a sheriff's sale and then the proceeds divided between the co-owners equal to their share.



This is the only accurate answer on this thread, other than the ones telling you to get an attorney.
Posted by Jimmy2shoes
The South
Member since Mar 2014
11004 posts
Posted on 4/30/16 at 12:54 am to
quote:

Co-owners own every single piece of that property in in-division.


and any co-owner can hunt the land, right?
Posted by Ham Malone
Member since Nov 2010
2512 posts
Posted on 4/30/16 at 6:41 am to
Lots of out of work landmen these days that could give you a hand. Title companies are also always hard up for business, you could get one to do an O&E for cheap and then you'd have a better idea of what you're in for.
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