Alex How to divide an undivided interest in real estate in Texas?
Attorney Kari Lutringer answers this question about how to partition or legally divide an undivided interest in real property in Texas. The attorneys of Wadler, Perches, Hundl & Kerlick have decades of experience in real estate and property law.
How is the line of succession in Texas?
The line of succession is vertical, downward to the heirs of the deceased, rather than horizontal, across to the co-owner. Joint tenancy with rights of survivorship has been dubbed the “poor man’s will” since it eliminates the need for a last will and testament as to a particular piece of property (but not others, obviously).
What does it mean to have an undivided interest in land?
The main thing to know about being Tenants in Common is that each owner has what is called an “undivided interest” in the parcel. Having an undivided interest means that no one owner has a specific piece of the land, but rather a share (or “interest”) in the entire property.
Can a sister buy out another sister’s property?
You don’t state how you all hold title, as joint tenants or tenants in common. However, while there is a distinction legally, as a practical matter under your facts it probably won’t matter. Since one sister can’t buy out the other two, the two wanting to sell with have to go to court to seek their relief.
Attorney Kari Lutringer answers this question about how to partition or legally divide an undivided interest in real property in Texas. The attorneys of Wadler, Perches, Hundl & Kerlick have decades of experience in real estate and property law.
The line of succession is vertical, downward to the heirs of the deceased, rather than horizontal, across to the co-owner. Joint tenancy with rights of survivorship has been dubbed the “poor man’s will” since it eliminates the need for a last will and testament as to a particular piece of property (but not others, obviously).
Can a Texas law compel a partition of property?
Property Code Section 23.001 et seq. applies: A joint owner or claimant of real property or an interest in real property or a joint owner of personal property may compel a partition of the interest or the property among the joint owners or claimants under this chapter and the Texas Rules of Civil Procedure.
You don’t state how you all hold title, as joint tenants or tenants in common. However, while there is a distinction legally, as a practical matter under your facts it probably won’t matter. Since one sister can’t buy out the other two, the two wanting to sell with have to go to court to seek their relief.