I have a tricky question. About five years back, my father passed away and I acquired his percentage of the home he owned. At the time of his death, the home was listed as a LLC and he was 50/50 partners with my uncle. Long story short, I acquired 50% of the home after probate. Since it was a LLC, the home was reappraised for property taxes after my father's death; I paid off the mortgage and the rent I collect barely covers property taxes now. It currently is not the best financial decision for me and I want out. I would like to sell to my 50% and purchase a home of my own. We have not been able to agree on a fair value and I do not believe he has the funds available. On a side note, the LLC has not been kept up-to-date. Can I force a sale of the property?
Answer
You are going to have to consult with an attorney in person. I am having trouble understanding how title to the property is held. Is it in an LLC entirely? Do you own 50 percent with the LLC owning the other half?
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