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I want to sell, but my siblings don’t - what can I do?
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Integrity Ventures Group asserts that it is not a licensed lawyer, and this article is intended solely for providing general guidance and information, and should not be considered as legal advice or a substitute for consulting with a qualified attorney. For any specific legal grievances related to personal probate cases, we strongly advise individuals to seek professional legal counsel and engage the services of a licensed attorney.
At Integrity Ventures Group, we pride ourselves on being the premier estate settlement firm in Texas. Our expertise lies in assisting families daily, helping them unravel the complexities of their probate proceedings alongside their attorneys. We would be honored to extend our knowledge to help guide you through your unique journey as well. Let’s Dive into: I want to sell, but my siblings don’t what can I do?
In Texas, when multiple inheritors are involved in an inherited property, such as siblings who disagree on whether to sell, the situation can become complex. Here are key points to understand, based on Texas inheritance laws:
Probate Process and Heirs’ Rights: During probate, the executor of the will is responsible for distributing the assets of the estate to the heirs. If there is no will, the court appoints an administrator. To sell a house inherited through a will, you need to go through probate and obtain the permission of the court and the other inheritors.
Enlist Help from a Professional Real Estate Firm: Seek Assistance from Integrity Ventures Group: Convincing siblings who are reluctant to sell an inherited property can often be challenging. In such situations, enlisting the help of a professional real estate firm like Integrity Ventures Group can be incredibly beneficial. We offer expert comparative market analysis services to determine the market value of the property, providing clear financial insights into the benefits of selling and dividing the proceeds among heirs.
Our approach at Integrity Ventures Group is comprehensive. We provide detailed statistical data, a tailored plan for the home, and a full spectrum of services to prepare the property for the market. This includes estate sales, clean out services, repair and maintenance teams, and even a design team to enhance the property’s appeal.
We understand that the hesitation to sell often stems from the overwhelming nature of the process and the perceived high costs involved. Our goal is to alleviate these concerns by offering a clear and cost-effective plan of action. By illustrating the full picture, including the costs of keeping versus selling the property, we aim to make the decision-making process easier and more informed for all parties involved.
Negotiating a Buyout: If you are willing to buy out your siblings’ shares, you can negotiate a buyout agreement. This involves determining the value of their shares based on the will and agreeing on a price for their portion of the inheritance. Integrity Ventures Group also works to help settle the property amongst siblings, and sometimes it turns out someone in the family buys out all the other siblings. However, it’s very important to note, no one can force someone into keeping a property they do not wish to keep.
4. Partition Action: If agreement cannot be reached, you can file a partition action. This is a legal proceeding that can force the sale of the property. It’s typically used when one or more co-owners want to sell, but others do not, or when the property itself cannot be divided, like in the case of a house. This action legally compels all stated owners to sell and divide the proceeds. However, partition actions can be emotionally and financially taxing, leading to costly and damaging litigation.
5. Legal Recourse in Case of Disagreement: In a situation where one heir refuses to cooperate, as exemplified in a 2019 case in Texas, the other heirs may have to resort to legal action. In this case, the recalcitrant heir, who refused to sell and changed the locks on the property, was successfully sued by the other heirs, resulting in a judgment of over $30,000 against her, as well as recovery of attorney’s fees.
6. Appointing a Neutral Party: In scenarios with multiple inheritors, it can be helpful to appoint a neutral party (non-beneficiary) as the head person for the sale. This individual can help mediate and manage the sale process, aiming to reach a consensus among all parties involved.
It’s important to note that these legal steps can vary based on the specifics of each case and the estate involved. If you find yourself in such a situation, it would be wise to seek the advice of a Texas attorney who specializes in probate and inheritance law to navigate this complex process effectively.
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