RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

What Happens When Property Owners Don't Agree

December 23, 2014 12:42 am

So, you want to sell your real estate inheritance, and your siblings don’t. How can you compromise?

When a piece of real estate has two or more owners and one wants to sell and the others don’t, a petition to partition may be the answer. This happens frequently among families when real estate is left in a will to heirs, but it can also occur when a couple divorces. How do you divide the property? What steps should be taken?

When the petition process is started, a notification is delivered from the court and given to all owners of the property, in addition to anyone who may have a legal interest such as lien or mortgage holders. The process can be expensive and time-consuming. Many owners will retain their own lawyer—anyone who doesn’t want the petition to move forward can file with the probate court seeking to stop the process.

When a family can’t agree on the terms of the sale itself, the petition to partition can force the co-owners to sit and negotiate. Everyone involved must understand that there will be unnecessary delays and the final sale price may be considerably lower if they take too long to come to an agreement.

Published with permission from RISMedia.


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Nearly 100 Million Americans Will Travel at Year-End

December 22, 2014 12:39 am

According to AAA projections, the amount of travelers during the year-end holiday period (December 23 to January 4) will grow by 3.8 million this year, signaling positive economic circumstances for an increasing number of families. With almost 100 million Americans set to travel, this upward trend marks the highest growth rate since 2009.

Low gas prices continue to help boost disposable income this holiday season, with today’s national average price of gas at $2.55 per gallon, 69 cents less than a year ago. Nearly 91 percent of all travelers (89.5 million) will celebrate the holidays with a road trip. Just 5.7 million will use airplanes as their main mode of transportation.

The calendar is also having a positive effect on the number of travelers expected this year. Because Christmas lands on a Thursday, travel season is one day longer than last year’s, offering more options for departures and return trips. This flexibility makes it possible for more people to fit holiday travel into their schedules.

"'Tis the season for holiday travel, and this year more Americans will join with friends and family to celebrate the holidays and ring in the New Year than ever before," said Marshall L. Doney, AAA President and Chief Operating Officer. "While the economy continues to improve at an uneven pace, it seems more Americans are looking forward with increasing consumer confidence, rather than looking back at the recession.”

Source: AAA

Published with permission from RISMedia.


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