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Question about multiple owners of same property in Louisiana
Posted on 4/29/16 at 2:26 pm
Posted on 4/29/16 at 2:26 pm
If numerous heirs to the same piece of property (800 acres) have no written agreement as to how decisions are made regarding the property, how would one heir go about leasing or selling their land? Without a consensus, how does an heir determine which acres are theirs and what they can do with them?
14
Posted on 4/29/16 at 2:27 pm to tiger81
quote:
Without a consensus, how does an heir determine which acres are theirs and what they can do with them?
You have to duel for it.
Posted on 4/29/16 at 2:28 pm to tiger81
Not so subtle brag, bro
Posted on 4/29/16 at 2:29 pm to tiger81
Its called an undivided interest. you need a good land attorney
Posted on 4/29/16 at 2:30 pm to FelicianaTigerfan
quote:
Its called an undivided interest. you need a good land attorney
Posted on 4/29/16 at 2:31 pm to tiger81
Who has the executive right?
It should be spelled out in the probate.
The executor of the estate should have that capability.
Pending approval of the other heirs
If you are not the executor and want to sell, contact the other heirs to see if they're interested in buying you out.
Or you can try to get them to agree to partition the property and everybody would get sole ownership of an equal tract
It should be spelled out in the probate.
The executor of the estate should have that capability.
Pending approval of the other heirs
If you are not the executor and want to sell, contact the other heirs to see if they're interested in buying you out.
Or you can try to get them to agree to partition the property and everybody would get sole ownership of an equal tract
This post was edited on 4/29/16 at 2:35 pm
Posted on 4/29/16 at 2:31 pm to tiger81
quote:
how would one heir go about... selling their land?
Partition deed. Or figure out what your interest is and sell your undivided interest.
This post was edited on 5/1/16 at 2:35 pm
Posted on 4/29/16 at 2:32 pm to tiger81
quote:
If numerous heirs to the same piece of property (800 acres) have no written agreement as to how decisions are made regarding the property, how would one heir go about leasing or selling their land? Without a consensus, how does an heir determine which acres are theirs and what they can do with them?
Co-owners own every single piece of that property in in-division.
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.
Posted on 4/29/16 at 2:36 pm to tiger81
You can sale you share of undivided interest.
Otherwise you'll need all heirs to come to an agreement on how to split the property in a document called a partition.
Without the partition, you own 1/# of heirs of everything, but a majority of nothing.
Otherwise you'll need all heirs to come to an agreement on how to split the property in a document called a partition.
Without the partition, you own 1/# of heirs of everything, but a majority of nothing.
Posted on 4/29/16 at 2:38 pm to tiger81
Lawyer question man
Posted on 4/29/16 at 2:38 pm to kingbob
Depends on what you're trying to do. As to the leasing part.
As to selling. You can sell your interest.
As to selling. You can sell your interest.
This post was edited on 4/29/16 at 2:39 pm
Posted on 4/29/16 at 2:41 pm to Number2
yeah what is your end goal with the property?
This post was edited on 4/29/16 at 2:43 pm
Posted on 4/29/16 at 2:43 pm to burdman
Lets say the property is 100 acres with 4 equal share owners. They each owne 25% of the entire 100 acres but not 25 acres of individual property. An owner can sell their portion "25%" to whomever is willing to purchase it for an agreed on price. It can be to one of the three remaining owners or an outsider.
If one owner wants their individual share "25 acres" then all have to agree on its location, width and length. If they don't then you have a right to take them to court and have a judge decide it's location.
Road and water frontage become issues, because usually they are more valuable than the rest of the property.
The problem comes in when the share is too small to make a marketable piece of property, which is a whole other issue.
If one owner wants their individual share "25 acres" then all have to agree on its location, width and length. If they don't then you have a right to take them to court and have a judge decide it's location.
Road and water frontage become issues, because usually they are more valuable than the rest of the property.
The problem comes in when the share is too small to make a marketable piece of property, which is a whole other issue.
This post was edited on 4/29/16 at 2:48 pm
Posted on 4/29/16 at 2:43 pm to TDcline
quote:800 acres. BFD.
Not so subtle brag, bro
Posted on 4/29/16 at 2:44 pm to tiger81
Just don't vote to put a Walmart on the property.
Your relatives will hate you to the end.
Your relatives will hate you to the end.
Posted on 4/29/16 at 2:44 pm to rodnreel
"Numerous heirs" sounds like too many heirs to adequately satisfy everyone with a partition IMO
We need more specifics to point OP in the right direction
How many heirs?
Who has the Usufruct?
What do you want to do with the property?
We need more specifics to point OP in the right direction
How many heirs?
Who has the Usufruct?
What do you want to do with the property?
This post was edited on 4/29/16 at 2:49 pm
Posted on 4/29/16 at 2:47 pm to tiger81
Just start building on it without telling anybody.
Posted on 4/29/16 at 2:53 pm to tiger81
Aren't you the poster who had questions a day or two back about o/g activity on this tract?
You're dealing with a lot of variables here.
You need to have a professional assess this situation.
You're dealing with a lot of variables here.
You need to have a professional assess this situation.
Posted on 4/29/16 at 3:00 pm to tiger81
Get a professional to help you walk thru the options.
My family cant even have family reunions anymore, due to an uncle being a complete arse about timber sales and one cousin wanting to build a camp on the family land.
If you like these other people and want to continue to like them, seek out a lawyer. Dont make it personal.
My family cant even have family reunions anymore, due to an uncle being a complete arse about timber sales and one cousin wanting to build a camp on the family land.
If you like these other people and want to continue to like them, seek out a lawyer. Dont make it personal.
Posted on 4/29/16 at 3:03 pm to tiger81
Thanks for all your responses. This is land that was originally part of an estate in 1975. It has passed down to subsequent heirs since then, and I do not know how many total heirs there might be at the present time. I only know my immediate family's share. I am doing leg work to get up to speed on the property and explore options. As a side note, does anyone live in close proximity to Lake Charles High School or know someone that does?
This post was edited on 4/29/16 at 3:13 pm
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