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Updated almost 11 years ago,
Buying a partial interest on an inherited house.
A brother and sister inherited a house and are in title as tenants in common. The brother, who lives in the house, wants to sell but the sister, who lives out of state, is refusing.
In the mean time, the back taxes are piling up and the house has become the eyesore of a decent neighborhood.
The brother has had enough and has asked me to purchase his half interest. My exit strategy would be to sue the sister for partition.
Upon purchasing the brothers interest, if I payoff the back taxes, will the sister be responsible for half of those taxes upon partition? They do not have a written agreement as to who pays the taxes, maintenance, etc.
Any other advice from those who buy partial interests?
Thanks
Gursel