If the joint owners will not sell, a partition action asks the court to force the sale and divide the proceeds equally.
What happens if my partner doesn't want to sell?
Assuming your partner doesn't want to sell because he or she want to keep the business going, an employee buyout (EBO) is probably your most viable option. Whether structured as an asset or stock purchase, an employee buyout transaction can involve virtually any size business.
How do you write a letter for a house that is not for sale?
Outline a few important reasons why you would love to (and should) live in the house. Definitely keep it under 1 page, however. Try to avoid including too much detail about your own life story, and avoid complaining about the difficulties you might be experiencing in finding a home.
How do you write a letter of interest for a property?
- Decide How You Want The Letter To Look.
- Introduce Yourself.
- Share Your Love For The Home.
- Describe How You'd Live In The House.
- Explain Your Offer.
- Express Gratitude.
- Read Over Your Letter.
- Deliver The Letter To The Seller.
What is a letter warning of partition action?
The letter explains that you have the right to force a sale via partition action, citing to the relevant law. The letter ends by attempting to persuade your co-owners that voluntary sale or a voluntary buyout would be better than a forced sale.
What is the meaning of pendens?
Lis pendens is a formal notice that there is a pending action, or lawsuit, that could affect the title of the property. However, it serves an even bigger purpose. When a lis pendens is filed, any future transfers of the property are affected by the pending action if it were to be awarded.