[NYC] multifamily home family split: international buyout, force sale?

Do you own this as joint-tenancy, as members of an LLC, or some other structure? Is there anything in writing to suggest that one of the siblings can force a sale?

Do you have equal ownership (one third each)?

Have you previously been compensated in any way (free/reduced rent, salary, preferential returns, etc) for managing the property?

Do you have the cash flow, and/or would the income from tenants, support a mortgage so that you could pay out one or both siblings and take more or complete control of the property? (This is probably the best approach to keep the property and get this person out of your life)

This is the beginning of negotiations.

  • Joint tenancy, I believe. Equal ownership, 1/3 each.
  • Other than having their names on the deed, neither sibling has bothered to obtain a visa to visit my father and therefore had never set foot on the property.
  • neither siblings has a US bank account. I am compensated, nothing in writing, for managing the property, etc. (I'd say, I have earned the compensation)
  • Yes, I will have a small amount of cash flow from the rental unit a little over $3000 before expenses

I absolutely agree that this person needs to be out of my life. The audacity... does not baffle me as this person is a POS coward that he is, only daring to ask after our father passed

/r/realestateinvesting Thread Parent