What can be done if a house was left to 2 daughters and they are at odds as to what to do with it?
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What can be done if a house was left to 2 daughters and they are at odds as to what to do with it?
My grandpa left his paid for house to 2 of his 3 daughters; 1 daughter wants to sell but the other 1 wants to sell only if the sister agrees to split it 3 ways with the sister who the house was not left to. Neither wants to buy the other out. Both have their own homes and there were very good reasons he didn’t leave it to all 3. Can the sister who wants to sell make the sister who doesn’t, buy her out? The taxes, upkeep, etc. are going undone and the house is going down. Legally, what can the sister who wants out and from under the house do?
Asked on September 25, 2018 under Estate Planning, Tennessee
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The sister who wants to sell can go to court and file for a "partition". In such an action, the judge will order that the property be divided or "partitioned" if possible. If not (such as in the case of a single family home), then it will be ordered that the property be sold via a "sale in lieu of partition". Accordingly, the property will be placed on the market and sold for fair market value. The proceeds will then be equitably distributed between the owners. First, however, any owner who wants to keep the property will have the right to buy the other owner out.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The sister who wants to sell can go to court and file for a "partition". In such an action, the judge will order that the property be divided or "partitioned" if possible. If not (such as in the case of a single family home), then it will be ordered that the property be sold via a "sale in lieu of partition". Accordingly, the property will be placed on the market and sold for fair market value. The proceeds will then be equitably distributed between the owners. First, however, any owner who wants to keep the property will have the right to buy the other owner out.
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