Inheritance chief executive question?
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Inheritance chief executive question?
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So basically I get half of my grandmother's house when she dies and her sisters get the other half.. I know my name comes on the house first if that means anything.
Anyway,They are the chief executives of the will.
Can they refuse to sell the house and move in? I was also wondering if they refuse to sell the house and move in they would have to buy me out correct?
Thank You.
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Mr Placid
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No, they are not required to buy you out. They can simply move in, not buy you out, and simply say, "It's part yours, and we aren't keeping you from moving in." And, legally, that's all they need to do.
But, you do have a legal option to force a sale. It's called a "partition lawsuit," and is available in every state. When you file the suit, the judge will appoint a broker to sell the property, and the proceeds from the sale will be distributed among the owners in proportion to their share of ownership. A partution is automatic; there is no "majority rules" in a partition suit.
That being said, a partition action should be your last resort. Due to court costs & attorney fees, yo will obtain significantly less money than if you simply sell the property by traditional means. |
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Paul
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It depends. They can elect to keep the house but they would be required by law to "buy" you out. If you wanted to keep the house then you would need to buy them out. The value of the house would be determined by a real estate agent and they would owe you half.
The fact that they are the executors means absolutely nothing. Their job is to enfore your grandmothers will. Any deviation from the will can be met with legal action from both sides.
Pretty simple stuff.
GL |
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