Probate or Real Estate Attorney???

[javamocha]

What is the name of your state? Georgia

My father died intestate without a will. He owned property (farmland) with someone with joint tenancy with no right to survivorship. Based on the warranty deed, upon his death his share passes to his heirs, which includes me and two other siblings. Based on tax documents the property was purchased in 1999 for about $25K; with improvements (guest house, etc.) the property is now being assessed at $55K. Based on information received from the co-owner, the balance on the mortgage is $20K; they are willing to sell. So far, it appears that there are no other debts. Other assets are minimal (i.e. 4 cars which are owned outright). They will probably be sold. I have already filed for probate and have been granted letters of administration. Letters to Debtor and Creditors has been published.

My siblings and I have no experience in real estate or probate. I have attempted to do research online about the best way to continue to handle this matter. Several sites advise to consult with a real estate attorney; others advise to consult with a probate attorney. It all just seems to be too confusing. We would like to make the best informed decision regarding how to handle the matter of the inherited property (keeping or selling). To get the best legal advice, do we need to consult a real estate attorney, probate attorney, or both? Any other advice would be helpful too.

Thanks in advance...

 

[anteater]

We would like to make the best informed decision regarding how to handle the matter of the inherited property (keeping or selling).

Seems to me that you and your siblings need to discuss what each of you would like to see done with the property first. Then, consult with an attorney on the best way to accomplish that.

 

[Raya Tahan]

Selling your father's real estate and vehicles

It sounds like you are doing a great job of administering the estate. If you and the other heirs wish to sell the property, and the co-owner also wishes to sell it, then that is what you should do. In order to list the property for sale, its two owners would have to sign a “listing agreement” with a real estate agent. First, the co-owner could sign it himself, since he is still alive. Second, you would have to sign it on your father’s behalf, since you are the personal representative of your father’s estate. In other words, when you filed those documents with the probate court and received those letters of administration, it is legally considered that you stepped into your father’s shoes and you have the right to sign the deed to sell his property, to sign the title in selling his vehicles, and so forth. However, you also have a fiduciary duty toward your other two siblings to ensure that you receive a fair value for those assets, and that you then divide the proceeds equally among the three of you.

Good luck with your situation. I hope it works out well for you and your family. Just FYI: My law firm's website has an online weekly newsletter on which we publish many articles and case briefs on these types of topics: http://www.tahanlaw.com/ArizonaProbate

I am only licensed to practice in Arizona (not Georgia), so I should also include the disclaimer that Arizona follows the majority law that is applicable in most states, and I am not trying to represent you as your attorney.

Sincerely,
Raya Tahan
www.tahanlaw.com