What is the name of your state (only U.S. law)? Indiana.
When my parents died they left an estate of real estate consisiting of a home and farm ground with an appraised value of $400,000. There are 4 heirs named in the will to share equally. We are getting ready to close the probate and are trying to decide what to do with the property. 2 heirs live close and want to keep it as a family farm and have been using the property as a weekend retreat and for recreation. No one has a problem with that so far. The 2 heirs that don't live near the farm and would get very little use from it want to sell their interest. The 2 heirs that want to keep it all together say that they cannot afford to buy the other 2 out. All have agreed that the $400,000 is a correct value and 3 of the 4 do not want someone out side the family to own the property.
1. Should we close the probate and then approache the problem as 4 equal owners or get this settled before we close?
2. In Indiana, can a court make heirs sell or split up property if they cannot come to an agreement? This property could be split up into equal shares.