What legal right do they have and how can I protect myself? 7 Answers as of April 01, 2013

I co-own a house with my siblings. My sister and I are on the loan, both of us and two our brothers are on the title. The property is considerably underwater. We have a short sale offer and it is now in process. My brothers are constantly threatening to stop the short sale (by not signing the transfer of title) because they believe it is an "investment".

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Durham Jones & Pinegar | Erven Nelson
You are in a difficult position. Your best leverage is to tell your brothers that if they short sale doesn't go through, you will quit making the payments and the house will be lost to foreclosure. Of course, that would hurt your credit.
Answer Applies to: Nevada
Replied: 4/1/2013
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
Great. Ask them to undertake the loan for their 'investment.' There are some other, rather cumbersome, ways to transfer the house without their consent, but it means a lawsuit.
Answer Applies to: Wisconsin
Replied: 3/5/2013
Ken Love Law | Kenneth Love
Unfortunately, all owners have to agree to the sale of the home. I am not sure what benefit you are getting out of the short sale in your situation. You may want to speak to your brothers to see if you can convince them that a short sale is better than a foreclosure.
Answer Applies to: North Carolina
Replied: 3/5/2013
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
You can sell unless all those on title are willing to sign, so your only option is to file for a partition order so you can sell.
Answer Applies to: New York
Replied: 3/5/2013
Law Office of D.L. Drain, P.A.
Law Office of D.L. Drain, P.A. | Diane L. Drain
Make sure that you all talk to a real estate attorney in order to determine your rights. Short sales are extremely dangerous and rarely beneficial to the borrower. Be careful.
Answer Applies to: Arizona
Replied: 3/5/2013
    Frank Law Group, P.C.
    Frank Law Group, P.C. | David E. Frank
    Your remedy in CA is to file a partition lawsuit which involves getting a court order to force the sale of the property. But that is a very time-consuming process, taking upwards of a year or longer. Plus, you really need legal counsel to pursue that course, which will likely cost $30,000 - $40,000 in attorney's fees and court costs. But the court can force the other owners to reimburse you for their proportionate share of the attorney's fees and costs incurred in the partition action.
    Answer Applies to: California
    Replied: 3/4/2013
    Stacy Joel Safion, Esq.
    Stacy Joel Safion, Esq. | Stacy Joel Safion
    They have that right. You can get them to sign quitclaims to you to get them off title.
    Answer Applies to: California
    Replied: 3/4/2013
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