Inheriated Property By 4 Family Members, How Do We Sell Property N Split It, When 1 Family Member Is Deceased?
AƖƖ 4 family members аrе οn deed, 1 οf those 4 family members died. Now wе want tο sell property. Legally wіƖƖ thе sale οf thе property bе split bу 4 οr bу 3 now?
Still gets split into 4 and the estate of the dead person gets his/her share. If there are no family members and no will, then the rules in your state will decide who gets what. It might even go to the state if there really is no one to inherit that share.
It depends on how the four hold title to the property and that should be stated on the deed. Does it say they are ‘tenants in common’ or ‘joint tenants’? My suggestion would be that the three surviving owners split the expense of consulting with an attorney to make sure this is done correctly as it is possible that this is going to result in the need to open (or reopen) a probate action for the family member who is deceased.
Depends on the terms of the will of the person who owned the property. If there was no will, and you acquired title by order of the propate court, then the order will specify the owners. If you just think you own it, but have never been to probate to seek clear title, then you are wasting your time because the estate still owns it.
Did they die before or after the inheritance? Does he have children? If he has heirs it will still be split in 4.