How do I collect money owed me from a buy-out on my inheritance?
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How do I collect money owed me from a buy-out on my inheritance?
My mother’s Will stated her home was to be given to my sister and I.My sister was on the deed at the time of her death and living in the home. Upon her death, my sister opted to buy me out of my half. Now, 5 years later I have not received over half of what my share was at the time the house was appraised. Do I have any legal right to the remaining money I was promised? If so, would it go off of the original appraisal or since upgrades to the house have been made, would it need to be reappraised? Since I was not put on the deed does that nullify my claim?
Asked on August 24, 2013 under Bankruptcy Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I am so sorry for your loss and for the situation that has resulted. You need to speak with ana attorney in your are on the matter as soon as possible. If your sister had a "right of survivorship" then the property transferred to her automatically upon your Mother's death and you may not be entitled to anything under the law. If that is not the case agreements to transfer real property generally have to be in writing to be enforced because of a law known as the Statute of Frauds. Please get help. The documents here need to be reviewed in person. Good luck.
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