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Acquiring the property of a deceased relative

What steps does one take when a sibling passes away and leaves a home behind? Five siblings remain, no known will, both parents deceased, not married, and no children. Several parties expressed interest in acquiring the property.


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Hi jqna,

I am sorry about your lost,  it is a sad time and harder when their is no will.  Usually just for the first time of talking to them, no charge is made, so i would check around and get a inexpensive but " good lawyer. "  ARE ALL OF THE SIEBLINGS IN AGREEMENT ABOUT  WHAT YOU ARE ASKING ?  That makes a big difference.  Anna sparkey's mom gave you some good advice, i just wanted to add about a lawyer, do't make the same mistake as i did with a lawyer,  they even come to see me, but i didn't know any difference so instead of looking around, i settled for 1 lawyer cause i was in so much greif at the time and really didn't know what i was doing, so i listened to others about their opinion of which lawyer to use which charge a arm & a leg...When i could of had a very good one that i knew and offered free because of my tradgey i was going thru.  I listened to others....Which did not turn out well i some ways.      Good luck to you

God bless

NanadeeCool

Posted 2009-11-06T09:01:55Z
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Christine Burgess

 

Mr. Jqna,  First you need an attorney.  One of the siblings has to be made executor of the estate.  The attorney can help with this.  The attorney places an ad in the law bulletin that Mr. or Ms. has died.  You then have to wait 6 months to see if anyone wants to put a claim against the property, such as a bill collector, or maybe even a child that no one else knew about.  After the six months is up, the property has to be sold, and the proceeds divided up between the next of kin, which is the five siblings.  Plus any money that was left behind is also divided up, minus 10 percent, which is paid to the executor.  The executor gets paid 10 percent for their work in handling the estate.  The executor also has to pay taxes on their extra 10 percent.  I know all of this, as my dad died with property, a little money, and no will.  I was made the executor, and had to split 3 ways with my 2 brothers, plus I got the extra 10 percent.  So, no house selling until the 6 months is up.  In the mean time, the executor has to keep up the utilities for the house, and any other expenses, which comes out of the estate money before it is divided up.  Feel free to ask if you need to know anything else.

Anna Sparky's Mom

 

Posted 2009-11-06T05:33:06Z

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