If my wife and her brother inherited land in a trust and he wants to buy out his half, how does she go about this?
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If my wife and her brother inherited land in a trust and he wants to buy out his half, how does she go about this?
Can he quit claim his half to the trust?
Asked on October 27, 2011 under Estate Planning, Colorado
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I would strongly suggest that you take the document to an attorney to review. The present status and the terms of the trust will govern the disposition of the property to a great extent. The trustee can help effectuate a sale of the property to anyone should that be an option, so one to the other of the beneficiaries should be fine. There may also be tax ramifications that need to be addressed so you should speak with an accountant as well. Just signing a quit claim deed is not the best way to protect your wife or her brother's interest in this matter and it may in fact cause havoc. Good luck.
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