How best to transfer inherited property?
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How best to transfer inherited property?
My father is executor of a trust for the estate of my deceased aunt. His one brother wants the share value of the house and land, while others were OK with just signing a quit claim deed,and turning the house over to my father. Is it legal, to pay the share to the one brother and have the others sign the quit claim deed?
Asked on October 2, 2012 under Estate Planning, Ohio
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
As trustee of the trust, your father is required to carry out the terms of the trust. Trusts are usually written very broadly with a great deal of discretion. I am not entirely sure of your question. It sounds like all the siblings except one are willing to give up their share of the house and land. They, of course, have that right. The other sibling also has a right to receive his share. Whether that sibling could insist that the house and land be sold and he be given money depends on how the trust is written.
This sounds like something a lawyer should look at. I would suggest that your father consult a trust lawyer for advice. He does not have to hire the lawyer to administer the trust itself; he can simply obtain a consulation and advice on how to handle this.
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