On the question of whether a property can be sold if an heir does not want it, the explanation is the following:
When you inherit a flat, there are times when disagreements arise about what to do with it: Leasing it out, selling it, or just allowing one of the heirs to make use of it.
In other words, selling of inherited flat is not a herculean task when there is consensus of the beneficiaries but can a property be sold if one of the heirs is averse to the idea?
Normally it is an operation that cannot be conducted without the consent of all the owners of the flat. But at the same time, the law does envisage other ways of accomplishing it.
In this section, you get to know all the available courses of action if the inheritors of the flat do not see eye to eye.
1. Award the property to an heir with the extinction of condominium
For those that want to remain owners of the property, this is where the process of joint tenancy termination comes in, where those who want to sell their shares to the rest of the heirs will do so at an agreed price.
If the inherited apartment has a mortgage and a joint ownership termination is performed, the heirs who pass on their share will cease to be property registry owner, while in terms of the mortgage, they will remain as holders.
To cease being so, the successor who retains the property will have to go to the bank and sign the novation of the loan, confirm solvency and, in many cases, to agree to worse terms.
2. Carry out an act of conciliation
It is suggested before going to the court that if the heirs cannot make a decision on what to do with the property, an act of conciliation should be made through a mediator.
The presence of a lawyer is not necessarily required at this occasion, but it is highly desirable he or she will be able to enlighten you on the various possibilities.
3. Sell the inherited apartment at a voluntary auction
If the heirs accept the scheme of the sale of the inherited flat but cannot come to a consensus with regard to the price that has to be paid for it, they may use a voluntary sale by negotiate. As the heirs do not determine the price, there are no questions regarding its inappropriateness, either high or low. In this regard, one must travel to the Court of First Instance of the place where the property is located and petition for an auction, where the selling price for the appraisal value for which it will be auctioned will be stated.
At the auction there can be a successful bid at the appraisal value of the property or the property may not be bid on at all. In the latter case, it becomes the exclusive decision of the inheritors whether or not they would like to embrace it.
4. Sale of undivided ownership of an inherited apartment
Another option available to owners who want to sell their share of the inherited property is to carry out the joint sale to a third party.
There are companies that are dedicated to buying undivided property and this is a procedure supported by the Civil Code.
In this way, an heir can sell his share of the property to a company, which will become the new owner along with the rest of the heirs.
5. Division of the common thing
If no agreement is reached, the last option is to file a lawsuit for the division of the common property. Normally, when this occurs, the judge determines that the inherited flat is sold at public auction and the profits are then shared.
