Frequently Asked Questions
Get answers to common questions about fractional real estate, partition lawsuits, reverse mortgage alternatives, and our process.
General Questions
What is fractional real estate ownership?
Fractional real estate ownership means you own a partial interest in a property rather than the entire property. This commonly occurs through inheritance (multiple heirs), divorce settlements, investment partnerships, or family co-ownership arrangements. For example, if you inherited a property with two siblings, you might each own 1/3 of the property.
Can I sell my fractional interest without the other owners' consent?
Yes, in most states you can sell your fractional interest without requiring consent from co-owners. However, finding buyers for partial interests can be challenging through traditional real estate channels. We specialize in purchasing these fractional interests directly, providing a faster and easier solution than trying to find a traditional buyer.
How is the value of my fractional interest determined?
We determine value based on several factors: the total property value, your ownership percentage, current market conditions, property condition, location, and any encumbrances or liens. Our offers are based on fair market value assessments, typically conducted through professional appraisals or comparative market analysis.
How long have you been in business?
Our founder has been licensed as a real estate broker since 1983 (over 40 years) and has been a Florida Bar member since 1992. We have decades of experience specifically in fractional real estate transactions and understand the unique complexities involved.
Process & Timeline
How long does the process take from start to finish?
Typically 30-45 days from initial consultation to closing and receiving your funds. This is significantly faster than partition lawsuits (6-24 months), probate sales (4-12 months), or coordinating a traditional sale with multiple co-owners (3-6+ months).
What are the steps in your process?
The process includes: (1) Free consultation and property assessment (2) Receive competitive cash offer within 5-7 business days (3) Review and accept terms with our team's guidance (4) Close in 30-45 days and receive your funds. We handle all paperwork and coordinate with title companies, attorneys, and other parties as needed.
Do I need to pay any fees?
No. Unlike traditional real estate sales where you pay 6% commission, or partition lawsuits where you pay $10,000-$75,000+ in legal fees, we purchase your interest directly with no fees to you. We handle all closing costs and transaction expenses.
What happens after I accept your offer?
After accepting our offer, we initiate title work, coordinate with a title company or attorney for closing, prepare all necessary documents, schedule the closing, and wire your funds immediately upon closing. We manage the entire process to make it as smooth as possible for you.
Partition Lawsuits
What is a partition lawsuit?
A partition lawsuit is a legal action where a co-owner asks the court to divide the property or force its sale. There are two types: partition in kind (physically dividing the property) and partition by sale (court-ordered sale with proceeds divided among owners). These lawsuits are governed by state partition statutes.
How much do partition lawsuits cost?
Partition lawsuits typically cost $10,000-$50,000+ in Florida and $15,000-$75,000+ in California in legal fees and court costs. These expenses are often deducted from the property proceeds, reducing what all owners receive. Additionally, court-ordered sales often result in below-market prices.
How long do partition lawsuits take?
Partition lawsuits typically take 6-18 months in Florida and 12-24+ months in California from filing to final sale and distribution of proceeds. The timeline can be even longer if co-owners contest the action or if there are title issues, liens, or other complications.
Can partition lawsuits be avoided?
Yes. If you're considering a partition lawsuit to exit your co-ownership, selling your fractional interest to us provides an alternative that's faster (30-45 days vs 6-24 months), less expensive (no legal fees), less stressful (no court proceedings), and preserves relationships with co-owners by avoiding litigation.
Inherited Property
I inherited a fractional interest in a property. Can you help?
Yes, inherited fractional interests are one of the most common situations we handle. Whether the property is still in probate or has been distributed to heirs, we can work with you to purchase your share. We understand probate processes in multiple states and can navigate those requirements.
What if the property is still in probate?
We can work with properties in probate, though the process may take slightly longer pending probate court approval. We'll coordinate with the estate attorney and provide any documentation needed for court approval of the sale. In some cases, you may need to wait until the property is formally distributed to heirs before selling.
What if other heirs don't agree on what to do with the property?
This is a very common situation. If co-heirs disagree about keeping, selling, or managing the property, selling your individual share can be the best solution. You can sell your fractional interest without requiring the other heirs' consent or agreement. This allows you to access your inheritance without forcing other heirs to sell if they want to keep the property.
How does selling affect the other owners?
Selling your fractional interest to us doesn't force the other owners to sell or leave the property. They maintain their ownership and can continue living there, renting it, or eventually selling. We become co-owners with them, though we're typically passive owners who don't interfere with their use of the property.
State-Specific Questions
What states do you serve?
We currently serve all 67 counties in Florida, all major counties in California, and are expanding to additional states including Texas and New York. We can also consider fractional interests in other states on a case-by-case basis. Contact us to discuss your specific property location.
What is Florida Statute Chapter 64?
Florida Statute Chapter 64 governs partition actions in Florida. It provides the legal framework for how co-owners can divide property or force its sale. This statute covers procedures, commissioner appointments, property division methods, and distribution of sale proceeds. Our direct purchase alternative helps you avoid this lengthy legal process.
How does California Proposition 19 affect inherited properties?
California Proposition 19 (effective February 16, 2021) changed property tax rules for inherited properties. Inherited properties may be reassessed at current market value unless they meet specific exemptions (primary residence with limited value increase). This reassessment can significantly increase property taxes. Selling your fractional interest may trigger or affect reassessment depending on your situation. Consult a California tax professional for your specific circumstances.
What are Florida's homestead exemption considerations?
Florida's homestead exemption provides significant property tax savings and creditor protection for primary residences. When selling a fractional interest in a homesteaded property, there may be implications for the exemption status. We understand these nuances and can help you navigate Florida's homestead requirements during the transaction.
Reverse Mortgage Alternative
What is a reverse mortgage alternative?
A reverse mortgage alternative is a financing solution that allows homeowners aged 55+ to access their home equity without the high fees, complex terms, and restrictions of traditional reverse mortgages. Our program offers better terms, lower costs, and more flexibility while allowing you to access cash from your home equity.
How is this different from a reverse mortgage?
Unlike traditional reverse mortgages, our alternative has: no origination fees (reverse mortgages charge 2-6% of home value), no mortgage insurance premiums, no monthly servicing fees, simpler terms and conditions, more flexibility in how you receive funds, and no requirement to repay if you move or sell. You maintain ownership and can stay in your home.
Do I have to be a certain age?
For reverse mortgage alternatives, we typically work with homeowners aged 55 and older, though requirements vary by program and state. For fractional ownership purchases, there are no age requirements. Contact us to discuss your specific situation and eligibility.
Can I still live in my home?
Yes. With our reverse mortgage alternative programs, you continue living in your home and maintain ownership. The arrangement allows you to access equity while staying in place. Specific terms depend on the program structure and your individual needs.
Legal & Tax
Do I need a lawyer?
While not legally required in most states, we recommend consulting with a real estate attorney for complex situations involving probate, multiple liens, disputes, or unusual circumstances. You're always welcome to have independent legal representation review our offer and transaction documents. Our founder is a licensed attorney and broker who can provide guidance.
What are the tax implications of selling my fractional interest?
Tax implications depend on how you acquired the interest, how long you've owned it, and your specific tax situation. Generally, inherited property receives a stepped-up basis, potentially reducing capital gains. Selling a partial interest is typically treated as a standard real estate transaction. We strongly recommend consulting a tax professional or CPA about your specific situation.
What if there's a mortgage on the property?
Properties with mortgages can still be sold, though the process is slightly more complex. We'll work with the mortgage holder to determine the payoff amount and coordinate the transaction. Your proceeds would be calculated after accounting for the proportional mortgage balance on your fractional share. If the property is underwater, additional considerations apply.
What if there are liens on the property?
Liens (tax liens, mechanic's liens, judgment liens) must typically be resolved at closing. We'll conduct title work to identify any liens and work with you to address them. Liens are generally paid from sale proceeds, and we can help coordinate lien releases and payoffs as part of the closing process.
Still Have Questions?
Contact us for a free consultation. We're here to help you understand your options and find the best solution for your situation.
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