My husband & his 2 siblings recently lost their Father. He left everything-a large sum in savings & insurances, & 2 houses, to be equally divided in thirds.The money when it's all gathered(which it is now), & the properties when they are sold, if all the parties agree to sale. The sister was made the #1 trustee of the estate. My husband & I live in the smaller of the 2 houses,his brother in the larger.
My question is if we decide to go ahead & buy the sister's 1/3 out (both of the son's do not wish to sell because we've always lived here & the brother in the other house) do we pay her 1/3 of what the assessed house worth that's listed in the county assessor's records at the time of their Father's death?
Thank you,
Cathyk
My question is if we decide to go ahead & buy the sister's 1/3 out (both of the son's do not wish to sell because we've always lived here & the brother in the other house) do we pay her 1/3 of what the assessed house worth that's listed in the county assessor's records at the time of their Father's death?
Thank you,
Cathyk