Negotiate with Siblings to Avoid Partition Action in Missouri on Inherited Property
Detailed Answer
When you inherit real estate jointly with siblings, each co-owner holds an undivided interest. Under Missouri law, any co-owner can file a partition action to force sale or division of the property (RSMo § 525.010 et seq.). However, you can often avoid court by negotiating a private agreement.
1. Understand Missouri’s Partition Rules
Missouri’s partition statutes (Chapter 525) allow a court to divide property in kind or order its sale and distribution of proceeds.:
- RSMo § 525.010 defines partition actions.
- RSMo § 525.040 covers partition in kind.
- RSMo § 525.050 details sale procedures when in-kind division is impractical.
2. Open Communication Early
Invite your siblings to discuss goals. Explain your desired outcome—whether you want to keep the home, sell it together, or buy them out. Early dialogue often prevents litigation.
3. Obtain a Professional Appraisal
Hire a licensed real estate appraiser to establish fair market value. A neutral appraisal provides a solid basis for any buyout or sale agreement.
4. Propose a Buy-Sell Agreement or Refinancing Plan
You can offer to refinance the mortgage or pay cash to buy their interests. Draft a written agreement specifying price, payment terms, deadlines, and remedies for non-payment.
5. Use Mediation or Collaborative Law
Consider hiring a mediator or collaborative law professional. These options are often faster and less adversarial than court proceedings.
6. Formalize Your Agreement
Once you reach terms, have an attorney prepare a binding contract. Record any deed transfers with the county recorder to reflect the new ownership interests.
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. Always consult a licensed attorney in Missouri for guidance on your specific situation.
Helpful Hints
- List each co-owner’s share in writing before negotiations begin.
- Keep all communications in writing to avoid misunderstandings.
- Consider tax implications of selling or transferring real estate.
- Check for liens or mortgages before finalizing any buyout.
- Ensure all siblings sign any final agreement and record changes in ownership.