104 Buying Out The Other Tenant in Common – PART 1

Gun-Ho waited two weeks before he called the co-tenant of that vacant lot he purchased at the auction, that was being held in tenancy in common. That co-tenant was holding 50% of the property interest in the land.

"Sir, I am the person who met with you the other day at your home, the one who purchased the other half of the property interest in the land that is located in Gangdong District. Have you thought about selling your interest?"

"I'm not selling."

"Sir, you can give a better life to your children with the proceeds you could make by selling it. Why don't you sell it to us at a reasonable price?"

"I said I'm not selling it."

"Then, let's do this. Why don't you buy my property interest then? To raise the value of the land and to fully utilize the land, we need to terminate the tenancy in common. That's another way to work out if you don't want to sell your interest."

"I don't have money to buy out."