I need an attorney who specializes in real estate contracts. If they also have knowledge in estates, that would be a plus. I inherited half ownership to a property that has an option to purchase contract set at a very very low value and I want to find out how I can break this contract. The other half owner is the one who has the option to purchase and wants to exercise his option.
As long as your “partner” has a legitimate option to purchase at a predetermined price, you are stuck with it. Unless the contract has some type of weasel clause which I seriously doubt, He has every right to exercise his option at the contract price.
Start with your local real estate association. Without a weasel clause, the only way to void the contract is to show the option agreement is not valid or signed under duress.