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Reply to "When the estate breaks the family"
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[quote=Anonymous][quote=Anonymous]I have to tell you, I wouldn’t care about this at all. If it’s a house that is the home of my sibling, but my parents helped pay for it, I would want to transfer it to them in the easiest way that satisfies the legal requirements of probate or whatever. I don’t care at all about me and my siblings getting an equal inheritance. I think if people are at the point where they want someone to move to a new house over that, the family was already “broken.”[/quote] The sib does not need to move, they can buy out the estate's interest in the home at fair market value, following state law and/or the direction of the probate court, if agreement cannot be reached. The parents did not just help pay, they are joint owners. That is the difference. It was not a gift at the time and ownership was never changed, thus the estate co-owns the property. If the parents co-owned a business with a child or friend, would be analogous, interest would pass to estate and co-owner could buy out. Sib and spouse are high earners. They already benefitted by purchasing an interest in a property that they otherwise could not have afforded and that has appreciated. The parent did not gift that one sib the home. The sib is way out of line in demanding it now. They can reach an agreement or the court will direct disposition. It is them creating this situation and trying to subvert the will of the deceased. [/quote]
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