A condo was bought as tenants in common by two friends

[quiuvo]

Now one wants out. How can he get his 50% share of the equity? The other person doesn't want to sell

[Peterw42]

Sell the 50% to another party.

Entering into a Tennant in common arrangement will always be difficult unless both parties agree upfront about future options . An agreed timeframe to sell or buyout terms.

Or a big white line down the middle of the condo, lol

[trogers]

Rent it out and split the income, less expenses...

Then, to each his own to find alternative accommodations.

[bitcoinforever]

incorporate in thailand have your new company , thai corp buy 50% of the condo. sell the shares any where total asses of company t 50% of condo in thailand . done

[trogers]

incorporate in thailand have your new company , thai corp buy 50% of the condo. sell the shares any where total asses of company t 50% of condo in thailand . done

And who would buy a company with only half a condo as asset, meaning having no total control over it, while having to bear annual administration and taxation costs?

[gandalf12]

Will the other person who doesn't want to sell buy the other 50%?

[GOLDBUGGY]

Well since they have no prior agreement, which I think is a bit foolish, and one wants to sell and the other doesn't, then I would say it is up to the seller to find a buyer. This may prove very difficult to do although I do know two guys how did the exact same thing and were able to work it out.

They both worked for the same company overseas and both worked 28 /28, but on opposite shifts. So who ever was off he got the place to himself. This worked out fine for years but one guy switched jobs and wanted to sell. He ended up selling his 50% to another guy on his shift. How they did the paper work I do not know. But with low rental prices and higher cost to buy, I doubt they would find anyone who was interested in taking just 50%.

If I was the one who wanted to sell, and had no legal way in which I could do this, and this place is rented out, then I would just continue to collect my share of the rent money and live with it. But if this is not the case, and the other guy lives their, I would probably offer the other guy a greater share of the pie. Maybe offer him 60% of the sale price and take 40% for myself. Otherwise if he can't use it anymore, or rent it, and can't sell it, then this place is useless to him. So 40% is better than 0%.

[1FinickyOne]

Check the classifieds under the half condo section... buy/sell....

I cannot imagine how anyone would buy into a condo with someone they do not know... Did you give this any prior thought at all? What would have happened if one of the partners was deceased?

Who gets the good bedroom? and who gets stuck with a roommate that they don't know?

The only possible solution might be to check amongst your list of mutual friends... though I cannot imagine anyone crazy enough to buy in...

[ozyjon]

Oh the 80's and timeshare,,

it was all the rage, now many

properties closed or abandoned

or both,, lawyers getting rich now

from 30 year old lawsuits to nowhere.

[SOTIRIOS]

...quite an oversight....