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Started By
Message
OT Lawyers - multiple land owners / bankruptcy
Posted on 1/14/19 at 7:31 pm
Posted on 1/14/19 at 7:31 pm
So my wife just asked me this question, I have no idea...
Her best bud's family owns 2500 acres in Ark...4 cousins are on deed, land is not separated by ownership
Supposedly one of cousins is filing for bankruptcy and court says he has to sell
Can a court make a combined property owner sell?
Her best bud's family owns 2500 acres in Ark...4 cousins are on deed, land is not separated by ownership
Supposedly one of cousins is filing for bankruptcy and court says he has to sell
Can a court make a combined property owner sell?
This post was edited on 1/14/19 at 7:38 pm
16
Posted on 1/14/19 at 7:31 pm to hubreb
Can’t the other three buy him out
Posted on 1/14/19 at 7:32 pm to hubreb
quote:
Can a court make a combined property owner sell?
Why don't you consult with an attorney instead of asking a bunch of drunk baws on a Monday night?
Posted on 1/14/19 at 7:33 pm to CaptainsWafer
Was told they got the land for nothing, bankrupt guy wants 4k a acre...others not coming up with that in a month
Posted on 1/14/19 at 7:33 pm to hubreb
Yes they can. That’s as asset and worth money, money that can be used to pay off debt.
Posted on 1/14/19 at 7:33 pm to O
quote:
Why don't you consult with an attorney instead of asking a bunch of drunk baws on a Monday night?
Don't discourage him, this is how we get quality OT entertainment.
Posted on 1/14/19 at 7:34 pm to hubreb
quote:
So my wife just asked me this question, I have know idea
That's shocking.
Posted on 1/14/19 at 7:34 pm to hubreb
What’s the land actually worth
Posted on 1/14/19 at 7:34 pm to O
Because I'm trying to answer my wife tonight, has nothing to do with me
I guessed no way
I guessed no way
Posted on 1/14/19 at 7:35 pm to StealthCalais11
quote:
Don't discourage him, this is how we get quality OT entertainment.
Nothing beats free legal advice on an internet forum. We for sure will get a lot of quality responses from Arkansas attorneys on a Louisiana school fan forum.
Posted on 1/14/19 at 7:35 pm to hubreb
If he’s only a 25% owner I don’t see how they can force a sale of the land. I could certainly be wrong.
Posted on 1/14/19 at 7:35 pm to hubreb
quote:
Can a court make a combined property owner sell?
Yes.
Posted on 1/14/19 at 7:36 pm to The Mick
quote:
If he’s only a 25% owner I don’t see how they can force a sale of the land. I could certainly be wrong.
That was my guess
Posted on 1/14/19 at 7:37 pm to hubreb
if he puts a tent up on the land and says he lives there they can't make him sale it
Posted on 1/14/19 at 7:37 pm to slackster
How do you no?
Posted on 1/14/19 at 7:38 pm to hubreb
Can he have the others buy him out at a dollar a piece? Have a secondary agreement drawn up to retain ownership percentage if they ever sell.
Posted on 1/14/19 at 7:38 pm to The Mick
quote:
If he’s only a 25% owner I don’t see how they can force a sale of the land. I could certainly be wrong.
They can force him to liquidate his position. They don't have to actually sell all the land though, assuming they can buy him out another way.
Posted on 1/14/19 at 7:39 pm to TigerNAtux
quote:
How do you no?
I doughnut no.
Posted on 1/14/19 at 7:41 pm to O
quote:
a Louisiana school fan forum
Is that what the rant is? might want to click on some of the other forums... probably the most visited southern states website there is
Posted on 1/14/19 at 7:42 pm to cable
quote:
they can't make him sale it
But can they make him sell it?
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