So, You Inherited Your Parents’ House Jointly With Your Siblings
How many times have you seen a bedraggled mother in the supermarket trying to find all the items on her shopping list while her children antagonize each other in and around the shopping cart? If she is lucky, a friendly senior, who might even be you, reassures her that sibling rivalry will evaporate once the children grow up. Maybe you regale her with stories about how you and your siblings used to fight like cats and dogs when you were children, but now you are each other’s best buddies. Don’t be so sure, though. Sibling rivalry that remained dormant can come roaring back when the siblings go to probate court to claim their share of their parents’ estate. If the parents only left money to their children, then the unpleasant experience of probate leaves the siblings wanting to take their respective shares of the money and avoid each other. One of the most irksome situations involving siblings and probate is if the parents leave their children a real estate property which the siblings must share. If they agree on what to do with it, there are no problems, but if they do not, things get complicated. If you and your siblings inherited a house from your parents and cannot agree on which of you, if any, should keep it, contact an Orlando probate lawyer.
Is Selling the House Always the Easiest Solution?
Presumably, you and your siblings do not all want to live in your parents’ house together, especially not if each of you has your own spouse and children. Sometimes, the siblings agree that one of them should live in the house and buy out the others’ shares. You can do this after the estate settles. You might also decide to sell the house and divide the proceeds. Whether you do this during probate or after the estate settles, the law offers protections to ensure that the heirs reach a fair agreement about the sale of the house and the equitable distribution of the proceeds.
The Uniform Partition of Heirs’ Property Act
Florida, like most states, has adopted the Uniform Partition of Heirs’ Property Act (UPHPA). It requires the court to ensure that the heirs have given each other a fair chance to buy out shares of the property before the heirs sell the property. The purpose of this rule is to make it easier for real estate properties to remain in the family. It also requires the parties to go through a mediation-like process before the court issues decisions about buying out of shares or about the sale of the property. If the heirs decide to sell the property, the court can also rule on disputes about which offers to accept from buyers.
Contact Gierach and Gierach About Establishing a Trust
A probate lawyer can help you keep or sell a real estate property that you and your siblings inherited from your parents. Contact Gierach and Gierach, P.A. in Orlando, Florida to discuss your case.
Source:
flsenate.gov/Committees/billsummaries/2020/html/2103
