I inherited a house with my brother and sister.

If my brother and I are buying her out, how much would she be entitled to. House
appraised at 220,000.

Asked on June 14, 2017 under Estate Planning, Maryland

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

There are three owners: if the house were sold and did not have a mortgage, so that the only things that had to be paid at closing were costs of sale, then if it appraises at $220,000, it would bring in roughly $210,000 of profit--so each owner's share would be around $70,000. That is the value of each owner's interest. So, if there is no loan, approximately $70,000 would be the value of her share. If there is a loan on the home, then subtract the balance of the loan from the appraised amount and offer her roughly 30-33% of the remainder.


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