Partner Buyouts/Selling Equity In A Property

[Christian D.]

Has anyone had experience with selling equity or partner buyouts in a multi-family property?

I jointly own a property with a family member (equal ownership 50%-50%). I am looking to possibly sell off some of my equity in the property to this individual. Can someone shed some light on how the valuation method(s) are calculated and/or taken into consideration based on the current market value, cash flow, etc?

If I were to sell 10%-15% of my equity, I also understand my partner will now be responsible for an additional 10%-15% of the operating expenses as the ownership percentages have changed.

We have not yet consulted an attorney, but plan to do so. Any feedback to shed some light on the process would be appreciated.