Forced sale of Spanish property

[GordonBennett]

My brother and I jointly inherited a property in Spain last year. Neither of us particularly wants the property to live in as a home, and we are only ever likely to rarely use the property, nor is it in an area that we are likely to get any great rental income from. I would like to sell the property, my brother would not, but is neither able or willing to buy me out - even at a greatly reduced market value. Can I legally force a sale ?

[MrGrumpy]

If you are unable to come to an agreement or arrangement with your brother amicablly, then you can get your lawyers involved and legally force the sale. I believe that the property would then be sold by auction and the proceeds split between you.

[GordonBennett]

Can I / We not just get a valuation and put it on the market with an Estate Agent ?

[MrGrumpy]

I can see your reasoning, but think of it this way : Choosing and appointing an Estate Agent, agreeing a valuation, when and where to market the property, how to sell it, and who will take overall responsibility for this - basically means making an amicable agreement somewhere along the way. IF you can do that, then obviously there is no need to 'force a sale' and go to auction.
- The forced sale process uses an auction because it is quick, it is easy, a sale is almost certainly guaranteed - it is a just a question of how much the property is worth and how the proceeds will be divided.

If you think you can find an amicable way to resolve the issue then you should do that first of all.

[GordonBennett]

Good points. Thanks for the heads up.

[victoria]

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Victoria Heden
____________________
Estate planning Canada

[GordonBennett]

Fortunately we have now been able to arrive at an understanding. We have agreed that it will be much simpler. work out with fewer costs and fetch a better prices if we work together on this one and deal with the property as a conventional sale.