Minnesota
Good day,
My Mother passed on in January, and her assets such as the house were deeded to myself, and my Sister who is my only sibling.
She lives in Illinois, and it fell upon me to handle the settling of the estate.
Paying the bills, arranging the estate sale, Insurance, etc.
The house which is shared equally by myself and my Sister has a sale pending. I found an investor who has agreed to purchase the property with the intent of renovating it and then selling.
The sale price is a discounted price, but considering the housing market these days, and the work needed to update the house I feel it is best for both of us to accept his offer and get this all behind us. Let someone else assume the risk.
It took some talking, but my Sister agreed to the sale with the caveat that I pay all fees associated with closing etc. Being at my absolute wits end I verbally agreed. "Fine! let's just get it over with and out of my life!"
Somehow during this emotional time, I lost sight of the fact that Mom always had Wills drawn up that dictated that all property was to be divided equally between us. I believe my Sister too has not given the Will any thought.
I was reminded of the Will by my Wife before we left to sign the purchase agreement with the buyer's of the house.
Holy cow, that's right! How could I have glossed over that fact that their is a Will? The last few months have been an emotional wringer.
I went into the estate files, found it and it clearly states that all property, assets etc. are to be given to the both of us, "Share and share alike"
I signed my side of the purchase agreement last night with the buyer which states all closing costs will be paid equally from the proceeds my Sister and myself receive from the sale. Just as the Will would dictate.
Once my Sister, who again lives in Illinois receives the documents and reviews them she may take issue with paying her share of the closing costs and balk at signing them. I am hoping that reminding her that we have a legal document (the Will) we have to abide by will solve any issues.
So, even though things may have been said by both of us during the stress of agreeing to sell the house, it is my thought the Will supersedes any and all verbal agreements outside of it.
Correct?
Thanks in advance.
Good day,
My Mother passed on in January, and her assets such as the house were deeded to myself, and my Sister who is my only sibling.
She lives in Illinois, and it fell upon me to handle the settling of the estate.
Paying the bills, arranging the estate sale, Insurance, etc.
The house which is shared equally by myself and my Sister has a sale pending. I found an investor who has agreed to purchase the property with the intent of renovating it and then selling.
The sale price is a discounted price, but considering the housing market these days, and the work needed to update the house I feel it is best for both of us to accept his offer and get this all behind us. Let someone else assume the risk.
It took some talking, but my Sister agreed to the sale with the caveat that I pay all fees associated with closing etc. Being at my absolute wits end I verbally agreed. "Fine! let's just get it over with and out of my life!"
Somehow during this emotional time, I lost sight of the fact that Mom always had Wills drawn up that dictated that all property was to be divided equally between us. I believe my Sister too has not given the Will any thought.
I was reminded of the Will by my Wife before we left to sign the purchase agreement with the buyer's of the house.
Holy cow, that's right! How could I have glossed over that fact that their is a Will? The last few months have been an emotional wringer.
I went into the estate files, found it and it clearly states that all property, assets etc. are to be given to the both of us, "Share and share alike"
I signed my side of the purchase agreement last night with the buyer which states all closing costs will be paid equally from the proceeds my Sister and myself receive from the sale. Just as the Will would dictate.
Once my Sister, who again lives in Illinois receives the documents and reviews them she may take issue with paying her share of the closing costs and balk at signing them. I am hoping that reminding her that we have a legal document (the Will) we have to abide by will solve any issues.
So, even though things may have been said by both of us during the stress of agreeing to sell the house, it is my thought the Will supersedes any and all verbal agreements outside of it.
Correct?
Thanks in advance.
