Home selling process is often characterized by numerous challenges and one of them is selling a disputed home. Have you ever encountered a probate nightmare? How do you deal with fighting siblings who can’t agree to sell a home? In this post, am going to share with you some practical tips on how you can resolve this matter amicably and proceed with a smooth home selling process.
What Is Probate?
The term probate refers to a court-supervised process which oversees the settling of a decedent’s estate and distributing it to the rightful heirs or beneficiaries. It involves verifying if the will written by the deceased is authentic and legally acceptable. In the event that a deceased had no any written will, probate process is also followed to ensure that assets of a deceased person are administered and distributed to the rightful heirs.
How Does Probate Work?
The Probate process happens in a probate court and you can find one in your local area or state. To start the probate process, the will is filed with the probate court where a judge will appoint a personal representative or administrator will handle all the deceased asset’s valuation, payment of taxes and debts and finally distribute the remaining assets to the rightful beneficiaries.
Probate problem with siblings arises in different occasions especially when the deceased did not leave behind proper instructions on what the will executor/administrator will do after the person had died. The beneficiaries who are mostly the siblings are left to discuss about the fate of the property.
There will be disagreements if there was mortgage repayments going on. Other causes of sibling’s rivalry can arise if; one of the siblings lives in that property rent-free, if they can’t agree whether to sell or rent it out or when they can’t agree on the asking price of the property when they decide to sell.
Therefore, if for whatever reason we have one of the beneficiaries who is not willing to sell their inherited home, you can come up with two options to help them settle the deal. They include;
Making An Offer To Buy The Other Person Out
If the property has two beneficiaries who are not agreeing to sell the property and share the proceeds, one of the party can try and initiate a process of buying the other beneficiary out. You will require guidance of a probate litigation attorney and when there is consensus, both parties can come into terms without conflicts and prolonged litigations.
Filing Of A Partition Action
When you file a partition action, it means you are seeking a force sale of the property. Such move can be necessitated if the other beneficiary has refused to sell the home or to the buyout offer. When a partition action is filed in court, legal proceedings will start and the court will review both parties concerns before making a judgment.
If all the partition requirements are met, the judge will issue an order instructing that the property be sold and the proceeds from the property be divided according to the rightful share of entitlement.
However, it would be better if the siblings can reach an amicable agreement without going to court to seek a partition action.
NOTE: Filing for partition is also recommended if certain parties listed on the deed are not fairly paying their share of property taxes, bills, etc.