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Reply to "Parents wanting to leave $1M home to sibling"
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[quote=Anonymous]I would suggest that the parents create a limited liability company (parents as sole members) to hold title to the house. Ownership of the LLC goes to the sisters upon death of last parent to pass. Sisters can decide if they want to sell the house, continue to share it, or, if one sister wants to retain ownership while one wishes to sell---there can be a buy/sell in the LLC agreement which provides that the party desiring to sell needs to name a price at which they would either a buyer or seller be. Then the other party decides whether to buy them out or sell their interest. The real estate equivalent of dividing the pie slice, "You cut, but you get to pick the piece"[/quote]
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