property left to 4 daughters....1 is unhappy

[madge]

i live in ohio. my mothers will left 2 city undeveloped lots is town to the four of us. the will reads share and share alike. she had no other assests, she had previously filed bankruptsy and was on medicaid.my mother lived on the property for 40 years in a mobile home which had to be destroyed due to the age and condition of it. the three of us want to keep the property on the family, mow it and care for it as we always have and enjoy the area, sister we have offreed to give her one fourth of the aprasied value, and she thinks it is worth more, she has hired an attorney to get petition to force a public auction. will the three of us through an attorney habe the right to say our views to the judge. we all grew up there, there are family animals buried there and trees which have been brought from school by our children planted there. we want to share and share alike as mom wanted not have an outsider buy the property. i live right across the street forom the property.help please

 

[JETX]

This will surely 'backfire' on the sister. Wait until she finds out that the property will (if lucky) only get 25-40% of its market value in public auction. If she insists on taking this tactic, let her. Then, the three of you bid on the property and purchase it. Then, you will get 3/4 of the purchase price (since you will still own that much of the property). She will then get FAR less then the actual value... and still have to pay her attorney!!!

Anyway you look at it... this is NOT a smart move on her part.

Suggestion: Agree to hire an independent appraiser and split the cost. When the property is properly appraised, buy her interest out. Be sure to get her to agree to this IN WRITING before you proceed. She doesn't sound like the 'sharpest knife in the drawer' and may try to renege on any agreement.