joint owners

Check all your paperwork to find out what you can or can't do. You may be able to borrow money on it.

I don't NEED the money--I just never use the cabin and think its a waste of my money-my sister uses it more than I do. We bought it from my Grandma after my Grampa died 15 yrs. ago--no paperwork as to what we are to do or what will happen in the future. Just a deed with both our names on it--co-owners. I offered it to her and my other sister 1 yr ago--they think because its family-I should GIVE it to them. We both paid $5,000 when we got it from Grandma ($10,000 total) Its now worth $40,000. I offered it to them for $10,000. My husband is a carpenter by trade and when ever there was something to be fixed--we did it. (and paid for it) Otherwise we split the costs 50/50. (taxes,insurance,electricity). Can I advertise it to rent it out when they are not there? Can I take her to court to MAKE her buy it-or sell it so I can get my money out of it?

You can threaten them that you sell your half to perfect strangers. That should get them to act.

could I legally sell my half if I would be able to find someone who would be willing to share it? Like a timeshare?

Depending in what state you are, yes you could sell your half. However, if the deed says "joint" ownership and stipulates that you need the signature of the other half when selling, then it's more complicated. If the deed has no such stipulation and it is truly a co-ownership, then yes you can sell your half.

Every state has different regulations though, it's important to learn what state the property is located in.

its in wisconsin and the deed just has me and my husbands name and her and her husband under ours--no "joint" or any terms to discribe it

Contact the county clerk's office with the PIN of the property and ask them how the deed has been filed. You can explain that you're looking to sell your interest and the deed is unclear if the property is held as "joint tenancy" or "tenancy in common".

If it's joint tenancy then you'll need the permission of all of the owners to sell your interest. If it's tenancy in common then you can transfer (sell) your portion of the property to someone else.

thanks!! I will do that

And that is exactly what I did in CA.

My father owned a cabin on five acres in Big Bear. Well he left half to his brother and half to me. I no longer wanted it and my uncle refused to buy me out. We were listed on the deed as joint tenants.

I contacted an estate-planning attorney and said it didn't matter, he said I could do what ever I wanted with my half of the property. When I told my uncle I was putting my half up for sale he quickly changed his mind and bought me out.

Perhaps he only bought me out because he knew I would make sure it cost him in legal fees if he didn’t.

He and I are not close at all, we haven't spoken in five years and I'm okay with that.

Good for you, jcboy!
I know that you can do that here in California, but wasn't sure in what state
the OP was in.

I am hoping that with me just having the knowlege of what I can or cannot do will be enough to get them to buy it form me. But I need to know as much as I can--my brother-in-law is a lawyer!! I don't want to get screwed!! I don't get along with my sister either-never really have--she is a selfish person and tends to take from people instead of give!! So I really don't care what it does to my relationship with her.

Well Becky, if it turns out that you can sell your half without their signature, I would do just that. Maybe you find someone who will butt heads with your sister and brother in law - some people deserve what they have coming to them