Can I take possession of my aunt's land if other heirs agree?

Full question:

My aunt passed away and her land will be up for sale for back taxes this summer. I can pay the back taxes but I need to know if I can take possesion of the dwelling if the other heirs sign some kind of papers transferring their heirship to me.

Answer:

If the other heirs who inherited the property either through intestate succession or a will sign a deed transferring their ownership to you, then you can take possession of the property. All joint owners have equal rights to possess the property unless there is a different agreement in place.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Yes, when you sell inherited land, you may have to pay capital gains tax on any profit made from the sale. The tax is based on the difference between the sale price and the fair market value of the property at the time of inheritance. However, there are exemptions and deductions that might apply, so it's advisable to consult a tax professional for specific guidance.