What to do if there are 3 siblings who are equal co-executors and 1 of us wants our fathers condo but the other 2 want out?
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What to do if there are 3 siblings who are equal co-executors and 1 of us wants our fathers condo but the other 2 want out?
We are being told we either have to share the condo with her or she can have it but we then get less than her. She gets all of her share of the monies left and the condo. How is that fair? Is that true? We have asked to be bought out and she refuses and on top of that is demanding we gift it to a third party and still pay monthly costs.
Asked on April 24, 2012 under Estate Planning, Virginia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for you loss and for the problems. You would have to bring ana ction for partition if you are all the owners of the property. An action for partition asks a court to split assets that are jointly owned in equal shares. With property that can not physically happen so the courts will generally order it sold and the proceeds split. There are elements of the action that have to be proven like that it is a burden financially. And you could be bought out and you do not have to gife it to her. Get help. Good luck.
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