Selling Fractional Share of Residential Property

[Alan F.]

My father owned a townhouse with his girlfriend (he was 81, she’s 82). He passed away about a month ago. The two of them owned the townhouse as tenants in common, each with a life estate. (Which makes partitioning the property difficult as I think she’d have the defense of the life estate). His girlfriend just advised me that she does not plan on buying us out, which means having to wait until she dies before I can recoup my father’s investment.

However, as a 50 percent owner now, I’m wondering if an investor might be interested in purchasing my fractional interest in the property. For the sake of argument, let’s assume the property is worth what they originally paid for it ($240k, so my interest is $120k). I’m wondering if there are investors who would take the risk that the property would increase in value and purchase my share today at a discount.

The townhouse is located in a nice gated community in Palm Beach County, Florida.