3 siblings own a house, have auction, one of them doesn't want to take bid and the other 2 do what happens?

Question

3 siblings own a house, have auction, one of them doesn't want to take bid and the other 2 do what happens?

Answer 1

depends how the house is owned.  Is it still in probate and one of the kids is executor of the estate?  or is it cleared from probate and the kids are all tenants-in-common or have joint tenancy or some other form of ownership?  

Let's assume its tenants in common, where you all have an equal share of the property.  Under TIC, you can sell your share of the property to someone else, but in this situation, not too many people will want to buy your share.  But it might give you some leverage against the 1 that doesn't want to sell, for them to know you can sell your shares to someone the third person may not want to deal with.

I'd say you just have to work through what your options are based on how the property is owned and what rights you each have legally, and think about what you and the other person who wants to sell might to do convince the hold out to sell

Answer 2

If they can't convince the third one to go along with it and the 3rd one does have some ownership interest in the house they can force the contract to fail.  In fact if they didn't want to sell the house at all, the siblings couldn't just sell it, they would have to go to court and the court could force a sale, but short of a court order they can't force the 3rd one to sell - ie No sale.

One more note.  Its really annoying to have to go this route but if the 2 really wanted to sell maybe they could pay the 3rd one a bit to go along with the salem, or something.