Forced Sale - Why Forced Sales Occur

Why Forced Sales Occur

Forced sales generally occur because tenants are unable to agree upon certain aspects of the ownership. The owners may disagree on how to use the property, on the amount of money to invest into the property, or on their right to occupy and use the whole of the property. If the parties cannot come to an agreement, the case moves to court through a petition to partition action. As the number of co-habitants increases in the United States, the petition to partition action has become more common as a remedy to divide real and personal property.

Property may be owned by more than one person either as joint tenants, tenants in common, and in some states tenants by the entirety. The choice of which tenancy to enter into is made by the parties at the time of purchase. With each type of tenancy, each owner has the right to occupy the whole. That means that an owner is not allowed to designate certain rooms as their own and so on. Each element of the property is enjoyed fully by all parties.

Read more about this topic:  Forced Sale

Famous quotes containing the words forced, sales and/or occur:

    The first year was critical to my assessment of myself as a person. It forced me to realize that, like being married, having children is not an end in itself. You don’t at last arrive at being a parent and suddenly feel satisfied and joyful. It is a constantly reopening adventure.
    —Anonymous Mother. From the Boston Women’s Health Book Collection. Quoted in The Joys of Having a Child, by Bill and Gloria Adler (1993)

    The damned are in the abyss of Hell, as within a woeful city, where they suffer unspeakable torments, in all their senses and members, because as they have employed all their senses and their members in sinning, so shall they suffer in each of them the punishment due to sin.
    —St. Francis De Sales (1567–1622)

    It is so wonderful to our neurologists that a man can see without his eyes, that it does not occur to them that is just as wonderful that he should see with them; and that is ever the difference between the wise and the unwise: the latter wonders at what is unusual, the wise man wonders at the usual.
    Ralph Waldo Emerson (1803–1882)