My two siblings and I, and our first cousin have jointly inherited 75+
acres of farmland in one of the most prosperous counties in Virginia,
within commuting distance of D.C. Each sibling has a one-sixth interest
in the property and the cousin has a one-half interest; so, my own share
translates to more than 12 acres.
I and one of my siblings wish to liquidate our interests but we are not
ourselves inclined to pursue a partition suit. My other sibling and
cousin have no desire to buy us out, at least not at this time.
Under Virginia contract law, may we sell some or all of our /interest/
in this land? There would be no deed tendered, of course, merely a
transfer of interest. Real estate agents, I have been told, may not
broker such a transaction because no deed would be conveyed. If this
kind of interest-transfer is allowed under contract law, what is a good
way to contact those who are in a position to invest in this manner?
We have copies of all will and probate do***ents, and there would be no
problem proving the legitimacy and percentage of our interests, which is
not contested. My one sibling and cousin are simply of the opinion that
now is not the time to sell, because of the current market conditions.
I understand that buyers would not pay as much for an interest as they
would for a deed.
Thanks in advance.
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