What is the name of your state (only U.S. law)? California
Question 1:
Say there's a dad who owns 500 acres of land and he's divorced and completely settled all issues with his ex-wife. So there's no wife in the picture.
He has though, 10 kids.
If he dies without a will, what will happen to the land? Will each kid own 1/10 of it? (All the kids are over 18).
What happens if 1+ kid says "I want to sell it", do the others have to "buy" them out out of their share if they want to keep it?And if the market value is millions of $, then the other kids have to come up with the $ or sell it? Can the 1 kid force the others to sell it in order to get his 1/10 share?
Question 2:
Is there such a will that the dad can write so that all 10 kids will own the land upon his death, but the will states they have to share it, and can not sell it? (like a family farm/vacation property)
What happens if 9/10 kids dont want to pay the property taxes, the 1 kid could get stuck with them if they want to keep it?
What if a few kids dont like the 'will' and want to sell it?
What if all 10 kids want to sell it in the future, can the 'will' prevent that?
What happens when the kids start dying off, will the last kid 'alive' own all of it and then could sell it? Or will the 1/10's shares be owned by the next generation?
If the next generation has a claim, and say each kid has 2 of their own, then 20 people will have a claim to it? Could the will of "can not sell, but must remain with the family" be in effect for the next generation?
In this case, the land is 1 parcel and the state/county will not break it up. If it's co-owned by 10 kids, could they legally force the state to simply break it up so those who want, can sell their parcel?
Thanks
Question 1:
Say there's a dad who owns 500 acres of land and he's divorced and completely settled all issues with his ex-wife. So there's no wife in the picture.
He has though, 10 kids.
If he dies without a will, what will happen to the land? Will each kid own 1/10 of it? (All the kids are over 18).
What happens if 1+ kid says "I want to sell it", do the others have to "buy" them out out of their share if they want to keep it?And if the market value is millions of $, then the other kids have to come up with the $ or sell it? Can the 1 kid force the others to sell it in order to get his 1/10 share?
Question 2:
Is there such a will that the dad can write so that all 10 kids will own the land upon his death, but the will states they have to share it, and can not sell it? (like a family farm/vacation property)
What happens if 9/10 kids dont want to pay the property taxes, the 1 kid could get stuck with them if they want to keep it?
What if a few kids dont like the 'will' and want to sell it?
What if all 10 kids want to sell it in the future, can the 'will' prevent that?
What happens when the kids start dying off, will the last kid 'alive' own all of it and then could sell it? Or will the 1/10's shares be owned by the next generation?
If the next generation has a claim, and say each kid has 2 of their own, then 20 people will have a claim to it? Could the will of "can not sell, but must remain with the family" be in effect for the next generation?
In this case, the land is 1 parcel and the state/county will not break it up. If it's co-owned by 10 kids, could they legally force the state to simply break it up so those who want, can sell their parcel?
Thanks
