Shared Real Estate Question

[aquabluesrq]

I have searched to no avail, and was wondering if anyone could provide me with an answer to this question. I currently hold 1/8 interest in real estate property I inherited from my father when he died. The problem is my father's siblings have no interest in selling the property as it was initially my grandparent's home and the home in which they grew up. The approximate value my interest in the property is $15,000. How would this be handled in Chapter 7? Would they force the sale of the property? I know I need to consult an attorney, I was just hoping for a quick answer. Thanks!

[justbroke]

The Trustee would force a sale if the siblings, or you, don't purchase your "interest" int he property from the Trustee. That simple. However, if you're in a gratuitous State with high exemptions, like California's System 2, you could protect some of the equity through an exemption.

In the end, the Trustee wants the money for the creditors (and to earn his/her commission). If that means forcing a sale, they will. In almost every circumstance I've read about, the Trustee is most wiling to negotiate the payment of the non-exempt portion of the equity... rather than go through the costly process of a sale.