How to divide assets of an estate?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How to divide assets of an estate?
When my dad passed away he left his house, a lot next to the house and then 6 acres of land to my 2 brothers and I. Now we want to sell the land but my brother has never helped pay for any of the taxes. Do we have to include him in the sale of the land?
Asked on December 12, 2011 under Real Estate Law, Minnesota
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your father passed away and left all of the three assets to you and your two siblings equally, hopefully title to the property has been transferred into all three of your names by way of a probate proceeding or a trust administration.
If one brother has not paid his share of the taxes on the property, when that parcel is sold, the brothers who paid his share of the property taxes should make a claim into escrow for the amount of his share of the taxes paid plus accrued interest. That way the brother who did not pay his share of the property taxes initially reimburses those in the end who fronted his share.
By doing this there will be an equalization of the things in the end.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.