What can be done if a beneficiary of inherited property wants to sell but the other beneficiaries do not?

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What can be done if a beneficiary of inherited property wants to sell but the other beneficiaries do not?

My parents have a vacation home that is part of a Trust. Upon the death of both parents, the property will be given to 4 children. We want to keep the property in our families and pass it along to our children, however, one of us has no interest in the property. Once the property is given to the 4 siblings, can one of them force the other 3 to buy him out because he just wants the money? If true, is there a way to edit the Trust so the property cannot be sold and will handed down to the next generation?

Asked on August 11, 2014 under Estate Planning, Arizona

Answers:

Anne Brady / Law Office of Anne Brady

Answered 7 years ago | Contributor

The sibling who doesn't want the property can not force the others to buy him out, but that would seem the wisest course of action.  Presumably, there will be money in the trust that will also pass to the four children, some of which could be used by siblings 1, 2, and 3 to buy out 4.  You can write any provisions you want to into the trust document, but locking yourselves into never being able to sell, without knowing what will happen, sounds like a really bad idea.


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