What has to be done to sell jointly held property?
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What has to be done to sell jointly held property?
My father recently passed away; he and my grandfather owned a property. They bought the property in the late 90’s for $10,501. My grandfather now lives in another state and wants nothing to do with the property and sale of it. My mother I now wish to sell the property. Im looking to know what I need to do, and/or have my grand father to do, to have us list the property for sale and not have him be liable to pay anything out of his pocket.
Asked on March 10, 2014 under Estate Planning, New Jersey
Answers:
Anne Brady / Law Office of Anne Brady
Answered 10 years ago | Contributor
If your grandfather really wants nothing to do with it, then either ask him to quit claim his interest in the property to your mother, or she can buy him out for his original $5,250 investment (or whatever it was). Then you mother will own the property entirely and she can sell it or do with it whatever she wants to do.
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