How can I negotiate a fair buyout of my interest in the family land when my co-owner is offering much less than the appraised value? (Montana)
Detailed Answer — How to negotiate a fair buyout of your interest in family land in Montana Disclaimer: This is general information, not legal advice. Consult a Montana attorney for advice tailored to your situation. If a co-owner is offering far less than an appraisal, you can usually still negotiate a fair buyout by understanding […]
Read article →How do co-owners initiate a partition action to divide or sell shared real property? (MT)
Detailed Answer: How co-owners start a partition action in Montana This FAQ explains, in simple terms, how co-owners can initiate a partition action under Montana law to divide or sell shared real property. It assumes you start with no legal background. This is a general overview of the typical process in Montana and is not […]
Read article →How is property divided in a partition when some acres are better than others? (MT)
How property is divided in a partition when some acres are better than others (Montana) Detailed Answer — how Montana courts divide land when some acres are worth more When co‑owners cannot agree on dividing real property, a partition action in a Montana district court decides who gets what. There are two basic outcomes: partition […]
Read article →How can a co-owner obtain monetary compensation instead of receiving physical property? (Montana, MT)
FAQ — Getting money instead of a physical share of jointly owned property in Montana Short answer (what generally happens) When co‑owners cannot or do not want to split real property physically, Montana law allows a co‑owner to seek monetary compensation instead. The usual routes are: (1) negotiate a buyout where one co‑owner pays other […]
Read article →Can I negotiate with my siblings to avoid a partition action on inherited property in Montana?
Detailed Answer If you inherit real property in Montana with your siblings, each co-owner has equal rights to possess the entire property. Under Mont. Code Ann. § 70-21-301, any co-owner can file a partition action in district court to divide or sell the property (Mont. Code Ann. § 70-21-301). A partition action forces a court […]
Read article →How to Coordinate Realtor Selection with a Co-Owner for a Joint Property Sale in MT
Detailed Answer Co-owners must work together at every step to select a realtor and sell joint property. Montana law requires a written listing agreement signed by all owners before a broker can market your home (Mont. Code Ann. § 37-51-102). 1. Open Communication and Goal Setting Begin with a meeting or call to discuss each […]
Read article →How to calculate and recover carrying costs from a co-owner in a joint sale agreement in Montana
Detailed Answer: Calculating and Recovering Carrying Costs in Montana What Are Carrying Costs? Carrying costs are expenses associated with holding real property. These include mortgage interest, property taxes, insurance premiums, utilities, repairs, and homeowners association fees. When one co-owner pays these costs on behalf of all co-owners, they may seek reimbursement. Which Costs Qualify for […]
Read article →What rights do co-owners have in Montana when one heir wants to live in inherited property while another wants to sell?
Detailed Answer Tenancy in Common and Possession Rights Under Montana law, heirs who inherit real property become tenants in common. Montana Code Annotated (MCA) § 70-22-102 defines tenants in common as co-owners with undivided interests. Each co-owner has the right to possess and use the entire property, regardless of individual share size. No single heir […]
Read article →What Steps Are Required to Initiate or Consent to a Partition Action Before a Court-Appointed Commissioner in Montana?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer In Montana, a partition action divides or sells co-owned real property through the district court and a court-appointed commissioner. Partition actions are governed by Montana Code Annotated (MCA) Title 25, Chapter 19 (MCA Chapter 25-19). You can initiate or […]
Read article →What Options Exist if Co-Owners Cannot Agree on a Buyout Price, Including Court-Ordered Partition or Sale? Montana
Understanding Your Options When Co-Owners Disagree on a Buyout Price in Montana Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer When multiple people share ownership of real property in Montana, they may eventually disagree on a fair price if one wants to buy out the other. Montana […]
Read article →