What must be done if 8 equal heirs wish to transfer their interest in the family home solely to1 heir?
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What must be done if 8 equal heirs wish to transfer their interest in the family home solely to1 heir?
All but one of my 7 older brothers (the oldest) and sisters would rather I become sole owner of the family home when my very ill father passes away. My oldest brother is a bit mercenary and lacking in the same familial spirit of generosity that the others share. Ideally I’d be able to establish some kind of legal agreement from the generous brothers and sisters who wish to release their interest in the home to me and my new fiance’. I suspect that my oldest, more mercenary brother, will want to collect on his share. Quite simply, what do I need to do to own the house when dad dies? Can this be done prior to my father’s passing or must it be done after?
Asked on March 2, 2012 under Estate Planning, California
Answers:
Hong Shen / Roberts Law Group
Answered 12 years ago | Contributor
There are several ways to do this and you can do it now. One way is to create a joint tenancy between you and your father with a right of survivorship such that when your father passed away you would automatically get the house. The other way is to create a will that leaves the house only to you. However, there are complications since your oldest brother will not like any of these ideas. You should consult an attorney to find the best way for you.
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