I own an apartment in Spain in equal shares, together with my brother, which we inherited from our father. We have always had a good and close relationship and have come to the property in a number of times to spend our holidays with our families. However, the company where I work is shortly transferring me to an office in Australia, and for this reason I will not come to Spain to use the apartment anymore. I have suggested to sell the property or let him buy my share, but he point black refuses, as he says that it is his family’s holiday home, but on the other hand does not have the money to buy my share.
Can I do something to unblock this situation?
In case that it is impossible to reach an agreement between the parties, either because they do not agree about the sale price, or because one the parties refuses to sell or to buy the other party’s share, there exists the possibility of going to court. In these cases, with the help of the judge, and taking into account that an apartment cannot be physically split, the judge can oblige that the asset is sold at public auction, and the amount obtained will be divided up between the parties according to each one’s share.