Anyone with Partition of Licitation experience? (Plaintiff)

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rmc

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I would literally not even known how to begin answering this question. I should have gone to Southern.

Thanks rmc,

There was an offer to purchase the real estate.
There are multiple owners. I discovered that a non-family member purchased three percent about 30 years ago by paying delinquent taxes.
Conceptually a judge could do a Partition in Kind where the three percent owner would be awarded a strip of land-only because he has property that is contiguous to ours.
I suspect that it would require quite a bit of coordination to have all of the joint owners to participate. If a subset of owners, say 4(of 20) bid the highest amount, for example, would they be awarded full ownership?
Is cash needed on the day of the sale? 100% of the amount?

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I suspect that it would require quite a bit of coordination to have all of the joint owners to participate. If a subset of owners, say 4(of 20) bid the highest amount, for example, would they be awarded full ownership? Is cash needed on the day of the sale? 100% of the amount?

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Sales with more than 3-4 owners are usually tough logistically, but they can get done. Usually, a patient buyer is needed.

Whoever bids the most wins. So in your scenario, the 4 would take it.

It depends on the sheriff's department. Some give you 2-3 days, some give you until 2 PM that day. I've never had any say they'd take a letter of credit but some might.