2006-12-12 01:22:34 · 4 answers · asked by powoman54 1 in Business & Finance ➔ Renting & Real Estate
I suggest that you in conjunction with an attorney get the estate evaluated for a market value, calculate the total heirs to buy out less yourself and offer them a buy-out, failing which will likely lead to an auction of the estate at which point you will then be able to buy what ever you want from the estate at what ever the market will bear at that moment in time and split the proceeds amongst all heirs according to the terms of the estate.
If you do a successful buy-out other than an auction, have a sale agreement drafted and all heirs sign it. That eliminates he said/she said/he said situations.
May all heirs deal with each other in love and kindness, as many do not and things get really ugly, relationships become irrepairably strained- all over greed. In that case nobody wins, and families are rent asunder forever.
2006-12-12 05:42:44 · answer #1 · answered by hithere2ya 5 · 0⤊ 0⤋
Go through your lawyer. He can tell you exactly what you need to do. If you don't have one already you will probably have to have an appraisal done. The land will have to be bought at fair market value. Good luck.
2006-12-12 03:32:51 · answer #2 · answered by Kathleen M 4 · 0⤊ 0⤋
Whoever has a share in that inheritance will need to be bought out of their share and as long as everyone concerned comes to agreement it shouldn't be a problem, but you'll need a lawyer to handle it.
2006-12-12 01:28:14 · answer #3 · answered by thellord_thighgod 3 · 0⤊ 0⤋
See your lawyer for protection. Sticky
2006-12-12 01:24:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋