What is the name of your state (only U.S. law)? Iowa
My mom died almost 5 months age. She had a couple of annuities and 3 CD's at the bank. These have already been split up with my sister and I. Was told they did not need to go to probate. What does have to go to probate is her house. My sister wants to buy it so were were told it needed to get a market value. Those figures are now in.
My sister and I both agree that she should buy my half out. We are being told that it would help probate along if indeed the house would be sold. Now does it matter what my sister and I come up with to sell the house? We have a figure in mind but I want my sister to pay me in 2 yearly installments.
Let's say the market value is $100,000 and my half would be $50,000. We both agree that she could give me $25,000 this year and $25,000 the next year but in the meantime the house would be sold to her. Can this be done in order to get out of probate? Thank You.
My mom died almost 5 months age. She had a couple of annuities and 3 CD's at the bank. These have already been split up with my sister and I. Was told they did not need to go to probate. What does have to go to probate is her house. My sister wants to buy it so were were told it needed to get a market value. Those figures are now in.
My sister and I both agree that she should buy my half out. We are being told that it would help probate along if indeed the house would be sold. Now does it matter what my sister and I come up with to sell the house? We have a figure in mind but I want my sister to pay me in 2 yearly installments.
Let's say the market value is $100,000 and my half would be $50,000. We both agree that she could give me $25,000 this year and $25,000 the next year but in the meantime the house would be sold to her. Can this be done in order to get out of probate? Thank You.