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inheritance issues with siblings family disputes over property that's our topic today we'll get started right after this [Music] hi I'm Kim Ward certified probate real estate advisor and expert at helping executor and administrators with homes and probate if you're new here welcome to my channel wondering about inheritance issues with siblings and family disputes over property let's talk about that so what do you do when more than one person inherits a property and one person wants to sell and the other person doesn't want to sell as you can imagine this could be awful tricky and controversial and this is where your probate attorney may need to step in it's an all too common problem especially among families but there are a variety of solutions that can be put into place first you want to verify that the parties involved either owned the property outright or have been designated as the beneficiaries or heirs has the property gone through the probate process and it was designated that it was inherited in the will does the will give guidance on how the property should be distributed I recently was helping Dana with a home in the Mira Mesa area she had inherited 50% of the property through a probate her fiance had drafted a will that stated that she would receive 50% of the house upon his death he had been ill for quite some time his daughter Erica who lived out of state she had inherited 50% of the property from an earlier trust that the decedent and his former wife had drafted so we had a 50% probate and a 50% in a trust of a property the decedent's home had some deferred maintenance and Dana wanted to do repairs on the property where Erica didn't want to she wanted to sell it lately as this this is where the real problem started in this particular case Dana decided that she was going to pay for the repairs to be done out of her portion of the 50% of the proceeds and Erika went along with it she really didn't have any choice and once those repairs were done the house was put on the market and eventually sold but it wasn't as easy as I'm talking about it it was quite complicated and did involve attorneys getting involved in the situation to help move things along instead of having it turn into a problem where the house could not be sold without a lot of legal intervention this is a rare case now the probate courts will enforce the decedent's will their last wishes they'll do this as closely as possible if there is not a will there will be an initial conversation about what should happen with the property oftentimes the will will have in it that both parties typically siblings own the property in equal shares and they own the property together so these two siblings or whatever two parties involved will need to figure out if there is a mortgage how that mortgage is going to be paid off it'll be important to determine if there's any equity in the property an appraisal will give that information to all parties involved if the property is in probate a probate referee there an appraiser will be assigned to the property that's a great way in probate to find out what the current market value of the decedent's home is so if the property has very little equity it may not be worth a fight over the property at all if the property is free and clear of all mortgages and debts it does again complicate the situation a bit so if the property is valued at a certain amount let's say $500,000 and both parties have equal shares then theoretically each party would receive $250,000 corsets after all claims on the property any kind of creditors taxes closing costs commissions anything like that need to be paid prior to the distribution of the proceeds to any of the parties if one person wants to sell and the other doesn't then the person that wants to keep the property would need to pay the party that doesn't want to keep the property they could do this by just liquidating their own personal funds or obtaining a loan on the property that then pays off the other party this is called a buyout if the person that wants to sell happens to win out after the conversations that occur with the attorneys of course once the home is sold on the open market both parties would receive their portion of the proceeds after all the expenses some of the additional expenses ifs going onto the open market maybe repair costs for the property and of course those would need to be paid back to whoever paid for those repairs and then again things would be split according to the 50/50 or whatever was established in the decedent's will now in the unlikely event that no agreement can be made then all the parties would need to go to litigation where they would spend time going through that whole process trying to come up with a final answer an alternative to litigation is a partition I actually had some clients that this was the result in the end that each of them got 50 percent of the property I don't exactly know what happened after that but that is not the best scenario as you can imagine partition is an act by the courts it's a court order that divides house into portions and naturally this can get very messy and can cause problems within the family so it is better to really resolve the real estate issues on your own the courts will typically not require two or more people to own property together if they don't want to the suit for partition would be filed in the local courthouse by your attorney probably and that would either force a resolution to the issue or sell the property to a third party and then divide the net proceeds I hope you found this of value if you did comment below hit that like button and don't forget to subscribe and hear on a weekly basis if you have questions in detail about your exact circumstances please feel free to reach out to me I'm Kim Ward six one nine seven four one zero one one one eleven San Diego California see you next week [Music] you