General Area in Michigan>Question Details

Eric, Home Owner in Michigan

I own 20 percent of a house in which 2 other persons own the remaining 80 percent equally. What rights do i have with regards to this property?

Asked by Eric, Michigan Thu Apr 19, 2012

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Don is basically correct. However please speak to an attorney. Most tenancy documents are similar. It depends upon who wrote it up and who inputs the data. Realtors are not attorneys and may not give legal advice. See a lawyer.
0 votes Thank Flag Link Thu Apr 19, 2012
Don is correct, speak to an attorney. Knowing tenancy is an important part in this and something you need legal advice for. Realtors cannot give legal advice.

Good luck
0 votes Thank Flag Link Thu Apr 19, 2012
A lawyer can best answer that question.

However, part of the answer depends on how you own it--tenants in common versus joint tenancy, for example. See, for instance, http://en.wikipedia.org/wiki/Concurrent_estate

If your portion is held as tenants in common, you can sell your portion to whomever you choose. It's a defined, divisble portion of the whole. That's not the case if it's joint tenancy.

So: See a lawyer.
0 votes Thank Flag Link Thu Apr 19, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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