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Settling An Estate

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blhkmg365

Guest
My mother (who lives in Pennsyvania)is the executrix <sp> of my grandparents estate. There is property involved (three houses and land). When my grandmother had her will made up she left the property to both my mother and my aunt (mom's only sister). My aunt (who lives in Louisiana) is greedy and wants to sell everything, the problem however is that mom has lived in one of the houses for over 30 years and does not feel that she should sell her own house out from under herself. A second house is located right next store on the same piece of land and is rental property. The third house (which has most of the land attatched to it) is also rental property with tenants currently.

Mom has reached an agreement with her sister to buy out her half of the estate for the two houses that are together. The third house remains in dispute. Mom wants to keep the third house and property and her sister is pressuring her to sell. She has threatened to take mom to court over this issue. My question is this...since mom is 50% owner isn't she allowed to to say "no" and continue to generate an income from the third house that would both benefeit her and my aunt? What legal recouse does my mother have in trying to save the third house and land?

A short history on the property is that it is part of a family farm and my grandfather built all three houses. He and my grandmother had always intended for both children to have a house and use the remaining house for rental. I do not think when the Will was created they thought there would be such a problem.

Please Advise,
 


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advisor10

Guest
1-8-2002

DEAR BLHKMG365:

This type of situation is so serious that your mother would need to talk to a local attorney to find out what her options are.

I would also agree with mom that she should keep the rental property for sentimental reasons, but of course the greedy aunt wants to sell it, since she THINKS she might get more money from the sale of it, but that may not necessarily be the case if whoever buys it is still paying off a monthly mortgage on it, it seems that the rental income would be the same as income received from the sale.

Anyway, can mom afford to buy out the aunt's half of this third house? That might be a compromise, although an expensive one.
 

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