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  • makijo

    Active Member
    May 31, 2013
    291
    Catonsville
    My wife and her brother are named in a life estate with full powers for their parents. My wife's dad passed in August 2017, her mom passed 54 days later. Currently my wife and BIL are co-owners of the house now that their parents have passed, her brother has already decided he would like to have the house and has been living their since their passing. What my wife would like to do is have him buy her out and not have to transfer the home deed to both them and then pay again to transfer it to him. My wife is the personal representative for her parents.
     

    shootin the breeze

    Missed it by that much
    Dec 22, 2012
    3,878
    Highland
    IANAL but I see a fight coming. BIL will expect the house for free and your wife will rightfully want her half of the inheritance. The only way I see an amicable resolution is if there is enough cash or other property assets that he could forfeit in lieu of a cash payment for the house. Even then though he may feel he’s not getting his share. Then again, maybe he’s reasonable and just pays up but pigs don’t often fly.
     

    rseymorejr

    Ultimate Member
    MDS Supporter
    Feb 28, 2011
    26,015
    Harford County
    Have the house appraised. Your BIL can write a check for half to your wife, pay her with other assets of the estate, get a mortgage to pay her or your wife can hold the mortgage. Seems like the fair way if both are reasonable.
     

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