This is California.
My sister is the Executrix, there is a will with five heirs (siblings). According to the will all property is to be distributed equally among heirs. It is my mothers(who passed away over a year ago) estate and holds a substantial house and property. The real property has a very small mortgage on it.
The Probate Court is now finished with their process, and are ready any time for us to file a “petition to disperse assets and final account.” The next step is up to us, the she may spend a few days preparing the petition, and after it is filed, she estimates the process will take 6-8 weeks to close. As I understand it, at the close of probate the judge will sign an order for the house to be tuned over to all of us as tenants-in-common, and for the Executrix to sign-over the distribution of anything else to the appropriate people, as stated in the will.
According to my sister; "The Petition needs to include our collective decision on how we want the house handled. For example, we file our “petition for final account” for the judge to distribute equal shares to all of us, and prepare a grant deed for all 5 of us as Tenants in Common."
Here is my issue;
Two of us want out of the house (a sister in So Cal and myself). The maintenance of the property falls on two of us, a different sister and myself who live closest. Between the five siblings we have divergent views on what to do with the property if we keep it.
The Executrix, who lives out of state, wants to keep the house indefinitely for nostalgic reasons. She however, cannot afford to hold the property by herself nor could she afford to buy out more than one heir, should the remaining heirs decide to hold the property equally.
The Executrix refuses to sell the property nor will she agree to rent any of it. I don't want to hold this property with my siblings, it's too open ended. Will/can the probate court force the sale of the property? How do I get out of this mess?
I would like nothing more than to be simply "cashed out" at the close of probate. Is this possible?
Thanks in advance.
My sister is the Executrix, there is a will with five heirs (siblings). According to the will all property is to be distributed equally among heirs. It is my mothers(who passed away over a year ago) estate and holds a substantial house and property. The real property has a very small mortgage on it.
The Probate Court is now finished with their process, and are ready any time for us to file a “petition to disperse assets and final account.” The next step is up to us, the she may spend a few days preparing the petition, and after it is filed, she estimates the process will take 6-8 weeks to close. As I understand it, at the close of probate the judge will sign an order for the house to be tuned over to all of us as tenants-in-common, and for the Executrix to sign-over the distribution of anything else to the appropriate people, as stated in the will.
According to my sister; "The Petition needs to include our collective decision on how we want the house handled. For example, we file our “petition for final account” for the judge to distribute equal shares to all of us, and prepare a grant deed for all 5 of us as Tenants in Common."
Here is my issue;
Two of us want out of the house (a sister in So Cal and myself). The maintenance of the property falls on two of us, a different sister and myself who live closest. Between the five siblings we have divergent views on what to do with the property if we keep it.
The Executrix, who lives out of state, wants to keep the house indefinitely for nostalgic reasons. She however, cannot afford to hold the property by herself nor could she afford to buy out more than one heir, should the remaining heirs decide to hold the property equally.
The Executrix refuses to sell the property nor will she agree to rent any of it. I don't want to hold this property with my siblings, it's too open ended. Will/can the probate court force the sale of the property? How do I get out of this mess?
I would like nothing more than to be simply "cashed out" at the close of probate. Is this possible?
Thanks in advance.