What is the name of your state? Texas
My Mother recently passed away and left behind a small amount of cash, which I had set up a trust for and she also had a small house that is also now in the family trust that is to be divided between us 4 children. (I am POA). Back 35 years ago when my father passed away it was said that the house, since Daddy didn't have a will, was left 1/2 to my Mom and 1/2 to the 4 children. (Not that it matters since both are deceased now.)
My question is this: My brother wants to buy out everyone's share of the house and live there himself. (This would be what my Mom would want, although she would probably have just given it to him.) But to be fair, I have told my 2 sisters that he is willing to buy them out. I am going to give him my share in order to respect Mom's wishes and because I have no interest in the house and have not helped take care of it like my brother has in the past, (he has done alot of work and really cleaned it up alot!).
The house is worth probably about $70,000.00, (we are waiting on the appraisal to come back), and brother has cash in his bank account ready to give to sisters for their part of the house. How do we do that and can they refuse to sell to him? If so, what happens then?
Do we have to use a realtor or anything?
Thank you....I'm so confused and still grieving, but sisters want more than what is being offered and I think they will try to pull something sneaky, so I want to tie things up ASAP.
Thank you for any help or suggestions you might be able to offer.
My Mother recently passed away and left behind a small amount of cash, which I had set up a trust for and she also had a small house that is also now in the family trust that is to be divided between us 4 children. (I am POA). Back 35 years ago when my father passed away it was said that the house, since Daddy didn't have a will, was left 1/2 to my Mom and 1/2 to the 4 children. (Not that it matters since both are deceased now.)
My question is this: My brother wants to buy out everyone's share of the house and live there himself. (This would be what my Mom would want, although she would probably have just given it to him.) But to be fair, I have told my 2 sisters that he is willing to buy them out. I am going to give him my share in order to respect Mom's wishes and because I have no interest in the house and have not helped take care of it like my brother has in the past, (he has done alot of work and really cleaned it up alot!).
The house is worth probably about $70,000.00, (we are waiting on the appraisal to come back), and brother has cash in his bank account ready to give to sisters for their part of the house. How do we do that and can they refuse to sell to him? If so, what happens then?
Do we have to use a realtor or anything?
Thank you....I'm so confused and still grieving, but sisters want more than what is being offered and I think they will try to pull something sneaky, so I want to tie things up ASAP.
Thank you for any help or suggestions you might be able to offer.