There are three owners (non related tenants in common) who live in a single family residential (SFR) home. Each owns a one third undivided interest in the property and each has to pay one third of the annual expenses (insurance=$600, property taxes=$3,000, utilities (water/sewer, gas, electric, trash)=$3,600. and maintenance =$1,500). The home has three bedrooms and one bathroom.  Each owner occupies one of the bedrooms (all equivalent). The home has been valued at $600,000 and is owned free and clear.  The house could rent for about $3,000/Mo.  One of the owners wants to sell their one third interest (needs money).  Neither of the other two owners want to buy this one third interest.

 

How about getting a mortgage for the one third interest?