Should a sibling buyout their other siblings when moving into parent’s home?
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Should a sibling buyout their other siblings when moving into parent’s home?
My sister and brother-in-law are moving into my parent’s home to care for our mom who has Alzheimer’s. Our father is dead. Do they buy me out before mom dies or after? They are planning to sell their home and remain in my parent’s home now after mom passes away.
Asked on May 21, 2019 under Real Estate Law, Michigan
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Right now, it is your parent's home, correct? You are not yet an owner? Then right now, until your mother passes, you have no interest in the home and they do not need to "buy out" your currently non-existent interest in it.
When your mother dies, assuming you inherit an interest in or share of the house (which you should unless she has a will specifically not leaving it to you), then, if you and your sister and her husband cannot mutually or jointly agree as to what to do with the home (e.g. they want to move into and live in the home but without buying out your share, so that you get nothing out of this), you can bring a type of legal action traditionally called an action "for partition" to get a court order requiring that the home put put on the market and sold and the proceeds split or shared between those inheriting the house.
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