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Should I include the house in the estate inventory for court?

Should I include the house in the estate inventory for court?

Q: What happens when one sibling is living in an inherited property and refuses to sell?

If one sibling is living in an inherited property and refuses to sell, other siblings can file a partition action. This legal action allows them to seek a court order for the sale of the property. The court may decide to sell the property and divide the proceeds, ensuring that all siblings receive their fair share.

Q: What is the best way to include grandchildren in a will?

To include grandchildren in a will, specify their names and the assets you wish to leave them. Clearly outline your intentions regarding property or financial gifts. Consider consulting an attorney to ensure the will is legally valid and reflects your wishes accurately, especially if there are multiple beneficiaries involved.

Q: What happens if two people inherit a house and one wants to sell?

If two people inherit a house and one wants to sell while the other does not, the willing seller can file a partition action in court. This legal process allows the court to determine the next steps, which may include ordering the sale of the property and dividing the proceeds between the co-owners.

Full question:

My mother left the house to three grandchildren. Do I include the house in the inventory to send to Court? If two wish to keep the house and one wants to sell, and the one that wants to sell get a court order saying they do not wish to be a cotenant; will the judge order the house be sold?

Category: Wills and Estates
Subcategory: Probate
Date: 04/07/2025
State: New Jersey

Answer:

As the executor of your mother's estate, it is your duty to prepare and file an inventory of all property, including the house, along with its appraised value. Check the will for guidance on how to distribute the estate among the beneficiaries. If the grandchildren cannot agree on what to do with the house, a partition action may be necessary. This legal action allows one co-owner to request a court order for the sale of the property and division of the proceeds. Typically, the court will order an appraisal to determine the property's value, which can also set a buyout price for one party to purchase the other's share.

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

Do all heirs have to agree to sell property?

No, not all heirs need to agree to sell property. However, if there are disagreements, one heir can file a partition action in court. This legal process allows a co-owner to request the sale of the property, even if others do not agree. The court will then determine how to proceed, which may include ordering a sale and dividing the proceeds among the heirs.

Do all beneficiaries have to agree on the sale price of property?

Yes, generally all beneficiaries must agree on the sale price of inherited property. If they cannot reach an agreement, one beneficiary may seek a partition action to resolve the dispute. The court may then order an appraisal to establish a fair market value, which can help facilitate a sale and ensure all parties receive their fair share.

What happens when one sibling is living in an inherited property and refuses to sell?

What happens if beneficiaries cannot agree?

If beneficiaries cannot agree on the distribution or sale of an inherited property, one or more beneficiaries can file a partition action in court. This action allows the court to intervene and determine how to resolve the disagreement, which may include ordering the sale of the property and dividing the proceeds among the beneficiaries.