Can land that was left to3 different family members in a will legally be transferred to1 of their name’s to be sold as a whole?
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Can land that was left to3 different family members in a will legally be transferred to1 of their name’s to be sold as a whole?
Asked on September 23, 2011 under Estate Planning, Texas
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
An agreement can be drawn up to transfer the land to one family member and sold. The agreement should be very specific so that the original three beneficiaries each receive 1/3 of the proceeds from the sale of the land. The agreement should be signed by the original three beneficiaries. I am assuming that the original three beneficiaries want to receive equal shares of the proceeds from the sale of the land. If they don't want to receive equal shares of the proceeds, they can agree to an unequal division of the proceeds and each beneficiary's percentage of the proceeds to be received should be stated in the agreement.
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