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property share and selling it

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1 property share and selling it on Fri Jun 20, 2014 11:10 am

razzy


Arresto Menor
Hello. My friend's father died and a property in his name, according to our research, is to distributed:

50%-mother (automatic half to spouse)

for the other half, the division is:
25% mother (half of the other 50%)
5% child1
5% child2
5% child3
5% child4
5% child5

All the children are adults. The property was supposed to be sold as they have received the 50% downpayment already, when suddenly one child refuses to sign the title transfer unless he gets a bigger share,  30% of the proceeds (supposedly, the father owed him an informal debt of 500k a few years ago to fund their family business, and that ballooned to millions in "interest"  Shocked ) So, right now, the buyers, who've already paid 50%, are occupying the complex, renovating it at will, while waiting for the signed papers to pay the balance 50%. I think they're luckly they're not being sued by the buyers.

Everyone is pissed off with this one person, family and buyers-- is there a way to legally proceed with the sale, or induce him to sell? Is there such a thing as majority rules? 95% of the property owners have already signed except for this one. Advice, please? Thanks.

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