An undivided property is not just a property that has not been subdivided into different sections. It is usually one piece of property, owned by more than one person, in which all owners have an undivided interest. This type of ownership often occurs when a piece of property is left to siblings to share or if friends or partners buy a piece of land together. Issues arise when one of the partners wants to sell his interest in the property but others do not. In such as case, ensure that communications are honest and clear among all parties involved.
Find out how your ownership is classified on the deed. If you are tenants in common, you have an undivided interest in the property; as this type of owner, you can sell only your interest in the property. To sell the whole piece, all owners must agree to sell. Joint tenancy gives rights of survivorship to the surviving co-owner when one of the owners dies.
Consult a real estate attorney and review the conditions under which you can sell your property.
Offer to sell your interest in the property to your partners. This is the best way to sell only one interest at a time. If you want to get out of owning the property but your partners do not, ask them to buy you out.
Find a buyer for your interest in the property and sell it to him. In some cases, it is possible to sell only your interest in a property without the consent of the parties with the remaining interests.
Find a buyer for your interest in the property and ask for consent from the other partners to sell it to him. This is the most common solution to the issue.
Ask your partners if they want to sell the property also. If everyone with an interest in the property consents to the sale, then you can list it with an agent or sell it as the owners, as you might do with any other piece of property.
Michelle Hogan is a writer and the author of 13 books including the 2005 bestselling memoir, "Without a Net: Middle Class and Homeless (With Kids) in America." Hogan studied English at American University and has been writing professionally since 1998. Her work has appeared in "The New York Times," "Redbook," "Family Circle" and many other publications.