What does undivided share in common property mean?

What does undivided share in common property mean?

An undivided share means an undefined portion of the land. A share in land does not mean an actual piece of the co-owned land but rather a right and entitlement to the land as a whole. A co-owner thus does not own a defined portion of the land but rather owns a share in the land as a whole.

Can a tenant in common sell their share without consent?

Because they don’t own the entire property, one tenant in common can’t sell the entire piece of land or a home without permission from all of the co-owners. If, however, all of the co-owners agree, the property can go on the market and get sold.

How do I sell undivided property?

To sell the whole piece, all owners must agree to sell. Joint tenancy gives rights of survivorship to the surviving co-owner when one of the owners dies. Consult a real estate attorney and review the conditions under which you can sell your property. Offer to sell your interest in the property to your partners.

How do I sell my share of a property?

Selling Your Share of a House Individually. Find a buyer and walk away. If you and the co-owners of the house are “tenants in common,” you don’t have to do anything special to sell your share of the home. As long as you can find someone willing to purchase your share, you can execute the transfer and be done with it.

Can undivided land be sold?

An undivided property is not just a property that has not been subdivided into different sections. If you are tenants in common, you have an undivided interest in the property; as this type of owner, you can sell only your interest in the property. To sell the whole piece, all owners must agree to sell.

Can you force a sale of a jointly owned property?

If you are living in the jointly owned family home, unless you agree to voluntarily sell the home your spouse or partner can apply to the Court for an order for sale of the property. The Court will normally only make an Order for sale at a final hearing.

How do I sell undivided land?

If you sell your undivided share the prospective buyer cannot take possession of any specific part of the land unless the same is partitioned. Nothing stops you from selling your share but the buyer will have to file a suit for partition to get the possession. 2.